Companies can better drive business outcomes when they have a formal data analytics strategy and a culture where data infuses decision-making, panelists said during a Gartner webinar.
"A formal strategy is a huge driver for supporting the decision-making and the organizational capabilities of our knowledge workers," Gartner Senior Principal Analyst Amanda Pagay said. "The second most common driver for focusing on strategy is creating an information-driven culture."
That includes ensuring that the entire organization views data as an asset that informs decision-making and innovation rather than a box-checking exercise. There are plenty of reasons to value data and analytics, "but the decision-making piece is a huge driver for why we actually care about data strategy,” she said.
“It is much more helpful to start from the top down and think about what your high-level strategy is and then trace your way back down,” Pagay said. “Likely, those foundational investments will be there. It is a lot easier to communicate urgency with your stakeholders for some less-than-interesting sounding investments if you're able to tie it back to what they care about, getting their decisions and their analyses done.”
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