How To Get Started With Data
Updated: Jun 2, 2021
Editor’s Note: The goal of this post is to demonstrates how to integrate data into your business. If managed analytics sounds like the next step for your business, please contact us here to receive more information.
A data driven culture is highly sought after in today’s technology centered world. For many businesses, the thought of integrating data into their daily operations is easier said than done. This post will guide you through building a data strategy from start to finish.
Why do you need to worry about it?
Forbes recently described data as “the lifeblood of any business” when outlining why small businesses can no longer ignore their data. Harnessing the capabilities of data can enhance a business owner’s knowledge of what is really going on in their company: who their customers are, their buying habits, as well as help to identify seasonal and geographical patterns. In addition to heightened awareness of what is included in current data, analytics possess the capabilities to predict future business trends and provide recommendations on businesses can optimize their operations. Collecting and understanding business data has quickly become a key to success in today’s business world. Can your business afford to miss out on these insights?
What is data maturity?
To begin building a data analysis infrastructure, companies must evaluate their current data maturity. Data maturity refers to an organization’s awareness, capabilities, level of buy-in, and allotment of resources.
The Data Maturity Model
Booz Allen Hamilton defines data maturity in their 2015 Field Guide to Data Science as several stages that move from very little data science capability to very powerful insight creation. The graphic shown here outlines their distinct steps to achieving data maturity.
Each section of the model is named for the analytic capabilities an organization should possess at that point of the process. The definitions of these processes are seen below.