It is a thought-provoking, long, and crucial process to create an enterprise data warehouse (EDW) stocked with relevant data. However, upon creation, this EDW will ease management, empower the business, and enhance the customer experience. A proper enterprise data strategy can empower a business.
“The International Data Corporation (IDC) estimates the amount of data in the world will reach 163 trillion gigabytes by 2025. For perspective, that equates to watching the entire Netflix catalog 489 million times!”
The field of healthcare is ever-growing, changing, and adapting. Annually, the United States produces approximately 1.2 billion clinical documents. Scientists and doctors have a lot of data to base their research upon.
Assembling, organizing, and processing a large collection of data are a few tasks of data specialists. These data scientists then make sense of the collected data to gain a deeper knowledge of the human body. Proving data has the biggest potential to revolutionize healthcare.
A data enterprise strategy is a well-rounded direction for an organization to potentially harness data-driven capabilities.
A great enterprise data strategy is composed of 4 major factors
- It’s practical
- It’s relevant
- It’s evolutionary
- It’s connected or integrated
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Practicality allows for the organization to easily follow the flow of the work when conducting activities. When the strategy is relevant, the information is contextual to the organization, therefore it’s not generic.
The strategy should be ever-morphing and ever-changing to adapt to the situations, thus providing an evolutionary feel to the strategy. Finally, an enterprise data strategy should be connected with everything that comes from it, or after it in regards to the data it represents.
Through intensified competition and amplified risk in the environment, a complete data strategy is required to increase business goals in a way that is efficient and cost-effective. With heightened competition and updated regulation burdens around quality and payment, a new-age data strategy to respond to the fluctuating market dynamics is required.
An enterprise data strategy provides a focused direction for an organization to potentially harness data-driven capabilities. This form of strategy represents an oversight for all domain-specific strategies, including data management, big data, and business intelligence.
Assembling a successful data strategy should be a fundamental obligation of any organization that is serious about using data and analytics to deliver insights and direction. This strategy should accelerate the business.
The common feature of rational technology helps with the increased volume, variety, and velocity of data that is being consumed by healthcare organizations today. Thus, as healthcare is changing, the data strategy should adapt to it.