by Jason Foster
The key to any strategy is ensuring it’s working as intended, and the same is true for your data strategy. As such, identifying the right data strategy metrics can be a make-or-break exercise for your data strategy. However, there should be no more than a handful (or two) that clearly report on performance as part of your overall business strategy. Any more might risk losing your results in the noise.
Which data strategy metrics should you use?
In deciding what these data strategy metrics to look like, it’s usually best for them to be aligned with your overall goals and business objectives. The right metrics can determine how well your organisation is performing against your current strategy, and accurately inform future plans. The right mix of lead and lag indicators is equally vital. With lag indicators, you can assess what’s happened, while lead indicators then allow you to influence the future based on these predictions. You might also have the end business result as the key metrics (e.g. improving customer satisfaction or increasing revenue), or about the progress of your data projects (e.g. the number of data sources ingested or unused dashboards decommissioned.)
In terms of your data strategy itself, here are some simple steps you can follow to find the best metrics for your organisation.
Article first publish on cynozure.co.uk