In order to clearly achieve an objective, it’s necessary to first ascertain the history and the current state of condition.
In other words, identifying the inventory of data available is a crucial first step in successfully and realistically projecting the required outcome.
Quality data is better than volumes of invalid data. It is important that companies closely examine their approach to collecting, cleaning, and maintaining their data. Continually monitoring data to keep it at high quality is vital, because nothing is ever set in stone.
This is especially true in the light-speed world changes we encounter today.
Starting with a set of objectives is integral to a company’s data maintenance process, never mind whether the company is a start-up or an established organization with large volumes of data. So depending on where it is in its development, or what it is trying to accomplish, each company will have its own set of priorities.
For this reason, determining what those priorities are is typically the first step. Ultimately, what it comes down to is starting not with the data, but with the key strategic questions:
1. What strategy is currently being implemented to drive growth?
2. What data, analytics, and processes are supporting/hindering growth?
3. How can we improve the quality of data, analytics, and processes?
Then establish the goal and involve the whole organization in its realization.