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Driven by Data: The Podcast

S3 | Ep 45 | The Data Strategy Canvass; Aligning Data Strategy with Business Objectives with Samir Sharma, CEO/Founder at Datazuum

Sep 12, 2023
Samir Sharma, CEO & Founder of Datazuum, discusses aligning data strategy with business objectives. Topics include the Data Strategy Canvass, language barriers between business and data teams, the critical component of asking the right questions, the value discrepancy between business leaders and data teams, and the 7 steps to align a data strategy to business objectives.
48:00

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Quick takeaways

  • Align the data strategy with the business goals by understanding the business strategy, assessing organization's capabilities, and developing a pragmatic roadmap.
  • Build relationships with key stakeholders, focus on business value and outcomes, and adopt an iterative approach to align the data strategy with business goals.

Deep dives

Aligning Data Strategy with Business Goals

When embarking on a data analytics or data strategy journey within an organization, it is crucial to align the data strategy with the business goals and objectives. This can be achieved through a seven-component process. Firstly, understand the business strategy by identifying its drivers, objectives, and goals. Then, align the data vision with the overall business vision, ensuring they are cohesive. Next, assess the organization's capabilities to identify any gaps and determine the use cases that will drive business value. Develop a business data model to understand how the business processes and decisions relate to data. Once these components are in place, focus on the operating model to determine the organization structure, ways of working, and cultural fabric that will support the data strategy. Prioritize the use cases based on cost-benefit analysis and return on investment. Finally, create a pragmatic roadmap that aligns with the business strategy and includes quick wins in the short term and long-term deliverables over the next three to five years.

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