Leaders spend a lot of their time and resources on strategic development. Every fiscal year typically begins with this in mind. According to recent research from Gartner, the challenge for CIOs is not necessarily the lack of strategy, but the absence of a clear strategy aligned with the business.
Do they confuse strategy and tactics? Do they think they are defining a strategy, but in fact are establishing tactics? Or do they go into tactics too quickly?
There's almost two things at play here. First, there are companies that get into the weeds too fast. But, on the other hand, there's too much tire kicking and over thought. For a data strategy specifically, it’s all about finding the right balance. The best approach is to go back to your ‘why’.Â
In this blog we look at developing the strategic mindset (often confused with tactical mindset) as a determinant of success. We go over it, with examples, in the following sections:Â
What does a good data strategy look like?
How do you create a good tactical plan?
How should I plan strategy vs tactics?
What does a good data strategy look like?
A good data strategy describes an organisation's overarching plan for how data will be used to reach its objectives.Â
The key elements of a data strategy include:
Laying out the data needs of your organisation. Where the processes set in place are helping people do their best work and where they can be improved.Â
An established vision designed to bridge the gap between business and technology.Â
Alignment from all stakeholders who are committed to addressing the identified challenges within a specified budget and timeline.
A model of data delivery that is sustainable (i.e. product-based as opposed to request-based or project-based)
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See our 5-step guide on the fundamentals of data strategy for more.
Tip: Understand the strategic significance of what you’re doing. When your activities are aligned to something that is of meaning to the business, then it’s of benefit to the company. It brings you back to the why. Why are we doing this? Why is this important?
How do I create a good tactical plan?
A good tactical plan consists of actions to be taken in order to execute a data strategy. The focus is on the day-to-day operations within the organisation.Â
Here are some actions to implement within a good tactical plan:
Enable business users to access and analyse data on a self-serve basis
Select the optimal tools for performance and cost efficiency
Consider modular architectures that meet the needs of those who use it every day.Â
Collaborate with partners who have strong support and value continuous improvement
To help you stay out of the weeds, apply these 5 key considerations to your tactics. This will keep you on course to meeting business objectives.
How should I plan strategy vs. tactics?
In Enterprise management, it’s important to have a clear understanding of strategic vs. tactical activities. As with any data analytics program, set strategic goals while at the same time bridging the gap between business and IT.
Here are five things to keep in mind for people who rely on data insights for their day-to-day.
1. Long-Term Vision vs. Daily Operations:
Strategy: Defining specific long-term goals that are measurable within a specified timeframe.
Tactics: Implementing programs for clients or customers
2. Flexibility and Adaptability:
Strategy: Adjustments to vision based on changing market trends or technology advancements.
Tactics: Adapting to new data collection methods, utilising new analytics tools, or focusing on different data points based on changing priorities.
3. Scalability and Growth:
Strategy: Allowances (resource or financial) for customer growth and asset acquisition.
Tactics: Standardising data collection and analysis processes (especially data governance) across different properties to ensure consistency.
4. Improved Decision-Making:
Strategy: Provide a clear data framework for interpretation based on business goals.
Tactics: Enable users to make informed decisions based on data-driven insights.
5. Enhanced Collaboration and Communication:
Strategy: Prioritise the alignment of team efforts towards achieving common goals.
Tactics: Collaborate effectively using standardised data and analysis tools.
Get a Minimum Viable Strategy
It’s important to have a strategy, but you need one that's simple enough to operationalise.
Starting with a MVS, tactics can be planned in alignment with business goals.
