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What is a data strategy and does a small business need one?
A data strategy is a short plan describing how data will support business goals: which decisions matter, what data and tools are needed, who is responsible and what to do in what order. Small businesses need a light version, often one or two pages.
A practical strategy answers:
- What are our key business goals?
- Which decisions need better data?
- What is the current state?
- What will we do in the next 6 to 12 months?
- Who owns it and how will we measure success?
Avoid grand plans disconnected from budget. A modest roadmap you actually follow is better. Revisit it at least yearly, because priorities, systems and budgets change and an out-of-date plan quickly loses credibility.
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