Data strategy

Data strategy

Data management rules and technology addressing the company’s strategic analytical goals

Manage company based on data
Ask the right analytical questions
Ask the right analytical questions

Due to the specifics of the business and current strategic tasks,  up-to-date analytical questions are formulated, the answers to which help the company plan the right tactical actions

Collecting and disposing of data properly
Collecting and disposing of data properly

In response to analytical questions, relevant data must be collected and processed. Data sources can be multiple and need to be collected and prepared in a proper virtual space before analytical processing

Obtain the answers to the questions asked
Obtain the answers to the questions asked

In order to obtain timely and correct answers from the data, they are processed with the help of appropriate analytical instruments, which can be further represented by the same instruments

What is a data management strategy

Data management strategy is the policy and rules of data collection, processing, and storage, which helps the company to make the right decisions based on data. The data strategy responds to analytical tasks that are in line with the specifics of the company’s activities and its development strategy. The more data an organization has, the more analytics it can produce and benefit from, however, it becomes more difficult to take care of the data and there is a need to develop a data management strategy.

 What is a data management
Elaboration process

Before elaboration of the strategy, interviews and workshops are carried out, on the basis of which a formal strategy document is created and approved with the following content:

  1. Analytical goals of the company
  2. Data and their sources
  3. Infrastructure and technologies
  4. Data processing procedures
  5. Data access rules

On the basis of the document, an action plan is drawn up, responsible persons, which according to the given plan perform the necessary works and ensure the further management of the system, are determined.

Benefits of data strategy

The implementation of the data management strategy frees human resources from routine technical work related to periodic data gathering and processing. The management is given the opportunity to manage the company based on data (data-driven company) and achieve competitive advantage in various directions:

  1. A better understanding of customer desires, increasing customer loyalty, and resulting sales growth
  2. Identification of potential reserves for cost savings and optimization of costs
  3. Increasing in performance and efficiency in various operational processes
  4. Timely identification of potential risks and reducing the likelihood of their occurrence and damage
 Benefits of data
Director, Digital Advisory

At BDO Digital, Anzor is the head of Digital Advisory that combines cyber and information security, RPA (Robotic Process Automation) and Data laboratory departments.

Anzor Mekhrishvili

  • AMekhrishvili@bdo.ge
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