There has never been a shortage of demand for business growth on corporate leadership. In the context of data value strategy, the opportunity for growth is exponential. But how can data be collected and organized more efficiently? How may it be used more effectively? Is the latest task, tool, or technological trend more important than what’s already in use? The answer to these and many other data strategy questions may lie in house already.
Peter Drucker rightly stated that, “Information is data endowed with relevance and purpose.” Companies must achieve the latter to benefit from the former, and that begins with the people and processes already in place. With “How to generate more leads” and “Prove ROI” still the top two marketing concerns reported by companies in 2017, clearly executives continue to struggle with connecting relevance and purpose to transform data into the information desired.
But if all are ideally striving for the same goals, why are different data sets, sources, and tools being used in silos? Why are emotions and individual sense of urgency driving actions instead of well-conceived strategies?
A fitting analogy
The ant farm is an amazing analogy that gives us full transparency into the systematic and synergistic workings of an ant colony. Each ant has a role, every chamber in the nest serves a purpose, and both actions and communications are shared from top to bottom (and back again) to ensure not only the survival, but the sustainable betterment of all members.
The strategy of ants is prioritized and collaborative: Collect and store enough food to survive, protect the queen, and let nothing stand in the way of either. That’s it.
To dig into the rich soil of data and build a strategy that is of fensively and/or defensively sustainable, a company must have its priorities straight, and its members must collaborate synergistically as a whole to execute the plan.
Read more on getting the most out of your data in SoftServe’s latest whitepaper, “Why You Need a Data Value Strategy.”