Published: 15 April 2025
Data is everywhere, but simply having access to it doesn't mean you're making the most of it. For many businesses, the challenge is not collecting data, it's knowing what to do with it. That's where a strong data strategy comes in. But how do you build a great data strategy, or improve the one you already have? Taking a closer look at where you stand today is a good start.
Think of your data as your game plan. It's your guide for collecting the right data, managing it effectively, and using it to fulfill your business goals. Whether you're aiming to improve customer experience, streamline operations or identify growth opportunities, having a good game plan will help you turn your data into real results.
But before building that plan, you need to understand where you are now – by doing a data capability assessment!
The idea is simple but has a big impact; take a step back and evaluate how you're currently working with data. It's not about checking boxes, but rather about asking honest questions and getting a clearer picture of what's working, what's not, and identifying where there's room to grow.
Here are some key questions to reflect on:
1. What kinds of data are you collecting and why?
2. Where is your data stored, and is it easy to access?
3. Can you trust the quality of your data?
4. Are you meeting privacy and compliance requirements?
5. Do your teams have the right tools and skills to use data effectively?
Data collection
Start by looking at how and where you gather data. Are you collecting valuable information or are you just gathering data for the sake of it? Purpose matters here. The goal should be to only collect the data you need to make smarter decisions.
Data storage. Is your data organized and easy to find, or is it scattered across different platforms? A good storage setup should be secure, scalable and easy to manage for your team.
Data quality. If your data is not accurate or up-to-date, it can do more harm than good. It's worth putting some processes in place to clean and validate your data on a regular basis.
Accessibility and usability. Your data shouldn't be stuck in a silo. Make sure the right people can access it when they need it, in a format that's easy to work with.
Privacy and compliance. Regulations like GDPR mean businesses have a responsibility to collect and store data ethically. That includes getting the right permissions and protecting personal information.
Tools and technology. The tools you use to collect, manage and analyze data should support your business today and be able to grow with your business as it scales. If your current data feels clunky or outdated, it might be time for a refresh.
People and skills. Even the best tools won't help if your team isn't comfortable using them. Look at the skills within your organization. Is there a culture of using data to make decisions? If not, that could be a key area to focus on.
Understanding where you are today is the first step toward where you want to be. A thorough look at your data capabilities can help you spot opportunities, avoid pitfalls and set a strong foundation for your business' growth.
Once you've assessed your current data capabilities, the next step is to use those insights to build your data strategy. Start small, focus on what matters the most to your business, and make gradual improvements. Over time, you'll see those small changes add up and have a big impact!
If you're serious about making data work for your business (which you should be), start with an honest assessment. Ask the right questions, talk to your team, and use what you learn to build a smarter, more focused strategy that grows with your goals. Not sure where to start? Talk to us! Our data experts will help guide you in the right direction.