Access and Feeds

Corporate Data: Principles of Data-First Businesses

By Dick Weisinger

The growth of Big Data and Analytics has shown many companies the value in using data.  The value that companies can derive from data has caused some to begin to adopt a data-first approach.

In order to promote a data-first mentality in businesses, Randy Bean of NewVantage Partners suggests that businesses adopt principles similar to the following:

  • Take control of your data. Data needs to be collected and made easily accessible for self-service.
  • Encourage data exploration and discovery. Businesses need to be flexible. Data models that work should be aggressively applied.  Those that fail should be discarded but serve as input of “lessons learned” for the creation of new ones.
  • Allow data to decentralize. Data drives decentralization by empowering organizations and individuals to be able to more quickly evaluate and make decisions.
  • Take advantage of cheap storage and computer processing. With lower hardware costs, the collection and use of data should be applied liberally within the organization.
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