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Four elements of a successful data strategy

November 19, 2018 / Kelly Hill

What are the basic elements that make a data strategy successful and executable? Mike Gustafson, president of business intelligence and analytics company Search Discovery, recently gave his take on the four elements of an executable data strategy that achieves useful integration of data and analytics. Gustafson, speaking at a recent event on the internet of things and the customer experience, said that while the process may seem simple, his company sees businesses struggle time and again — and many are not yet even interconnecting basic data sources within their companies. The four basic elements of an executable data strategy, according to Gustafson, are: A focused vision. What is the vision for how data will impact the business? Identify and articulating a desired outcome, rather than simply implementing a tool and collecting data and figuring out later how to use it.