Big data has clearly reached a certain level of maturity on the technology hype cycle.Basically, that means many initial and early investments in business intelligence, customer intelligence, advanced analytics or other big data capabilities have yet to yield the kind of breakthrough performance gains that were promised.You could say that the potential value and the ROI on these investments were overhyped. Or you could point out that the culprit in many cases was a failure to develop a sufficient data strategy to guide activities and prioritize investments in these areas.We’ve previously explained what a data strategy is, and how having one helps your company treat data as an asset. Now we’ve identified several key indicators that implementing a data strategy – or overhauling your existing one – would help your organization get more value from its data.Seven Signs That Your Company Needs a Data Strategy1. It’s not clear what data is worth or how to use it.From an accounting standpoint, many companies are struggling with the “big mystery” about what their data is worth.On a tactical basis, much of the value of data comes from knowing how to apply it to seize market opportunities – which is exactly what a data strategy helps define.
