Flashcards on Data Strategy for Digital Transformation
Data Strategy for Digital Transformation: Student Guide
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Data Strategy
41 cards
Card 1
Question: How does the MIT CISR Data Board define a data strategy in one sentence?
Answer: A central, integrated concept that articulates how data will enable and inspire business strategy.
Card 2
Question: What are the five core questions a data strategy should answer?
Answer: 1) What is the organization’s vision for data? 2) How will the organization move forward on its data journey? 3) How will the organization drive data
Card 3
Question: What does the question “What is the organization’s vision for data?” ask a data strategy to articulate?
Answer: How data will enable specific business goals.
Card 4
Question: What does the question “How will the organization move forward on its data journey?” require the data strategy to clarify?
Answer: How the organization will execute desired data activities.
Card 5
Question: What components should a data strategy include to drive data adoption and use?
Answer: Change management components such as education, incentives, measurement, and communication plans to inspire change at individual, group, and organizat
Card 6
Question: What should a data strategy provide when answering “When will the organization execute the proposed activities?”
Answer: A roadmap listing the sequence of steps, milestones, and priorities for execution.
Card 7
Question: How should a data strategy describe the organization’s economic logic?
Answer: By explicitly explaining how the company will monetize its data through improving, wrapping, and selling activities.
Card 8
Question: According to the MIT CISR Data Board findings in Q1 2018, how long had the average existing iteration of a data strategy been in place?
Answer: About 1.6 years.
Card 9
Question: Who owned about half of the organizations’ data strategies in the MIT CISR Data Board survey (Q1 2018)?
Answer: Either IT (18%) or a formal data unit (34%).
Card 10
Question: What proportion of organizations in the Q1 2018 survey had data strategies that were dramatically refreshed or brand new?
Answer: Two-thirds of the organizations.