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What is Data Strategy?

A data strategy is the plan for how an enterprise will handle any data. E.g. collect, store, manage and use the data. It also helps in improving data management across organization. A data strategy should be should be specific and actionable and at the same time can also be adjusted as per circumstances.

Business benefits of data strategy

  1. Enhances business decision making
  2. Helps mitigating risks
  3. Enables fraud risk management
  4. Helps making data an integral part of the business