3 Tips for Launching Your 2022 Data Strategy

2022 Data Strategy

If becoming a data-driven business was easy, everyone would be doing it. Becoming “data-driven” isn’t just about amassing as much data as you can – and launching your 2022 data strategy successfully means more than learning what makes your business “tick” and doing more of it.

3 top tips for launching your 2022 data strategy

Working in the data analytics space day in, day out, means we see many businesses trying to harness information to improve processes, increase efficiency, and ultimately become a better, meaner machine than before. So, when asked, here are the top tips we give to business leaders looking to level up their data strategy in 2022:

1.      Set clear goals and objectives for your data strategy

First of all, know why you’re doing this. From understanding what you want to achieve, it’s time to set both realistic targets and “ideal” outcomes – that is, best case scenario vs what we want or need to happen. Understand that there will be variables, roadblocks and hurdles to face in doing so.

It all begins with having clear objectives to refer back to when things undoubtedly become somewhat overwhelming. Which leads us on to…

2.      Hone in on key focus areas rather than taking all-encompassing approach

The data your business has to collect is infinite. It’s never ending, quite literally. No exaggeration.

What that means is that it can sometimes be all too easy to become lost in the midst of – frankly – pointless information and throwaway details. So, don’t simply collect it all – work out what’s actually going to be beneficial to your 2022 data strategy and own it.

For example, if you know with some assurance that in your industry traffic doesn’t equal conversions, stop monitoring traffic. Instead, focus on the points that you know do contribute to actual revenue.

Track down the key areas where sales happen, or they don’t. Spend energy on harvesting the data which matters.

Sure, you may have to start with a more overarching look at things before drilling into key areas – but overall, my advice is always to keep things as streamlined and specific as possible. Keep the goals we talked about above in mind and look at the data which is going to solve key defined business issues, rather than simply improving on everything.

3.      Attract the top talent in the data science world by building a culture to be proud of

It’s no secret that in this new age of data and business information, there’s a widening disconnect between those who want the data, those who capture the data, and those who understand how to use the data. Having a team robust enough to actually utilise and make effective the information you’re gathering is arguably the most important piece of the puzzle.

After all, what use are the tools without a practiced hand to use them?

Attracting talented data scientists and engineers who want to have an impact is crucial to your 2022 data strategy. Our final tip would be, unsurprisingly, to hire someone who truly knows what they’re doing when it comes to data. To do so, you’ll need to stay competitive in a tight talent market, and offer these individuals an opportunity to take ownership, to progress, and to add real value to your business in their responsibility. This means building a culture of ongoing learning with a forward-thinking nature.

That third one we’re qualified to help for – and we’d love to chat about what it is your data team needs to thrive. Get in touch with the Konnexus team today to learn more.

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