"How should startups embark on their data journey, to start building their data-related capabilities?"
This is a question I got twice in a day! :D
Thought I do a post here to share my thoughts on it and invite your thoughts as well. :)
Any startup who wants to use data to build up their competitiveness should always start with a data collection strategy. Why?
1) It takes time to collect data! You do not want to waste that time because collecting the data again, with the right quality level, takes time.
2) Getting useful data takes planning, looking at the possible use cases, and ensuring low-hanging fruits can be accessed first, to keep the momentum going.
3) Good quality data collection takes planning as well!
What are the things that need planning?
a) Use cases - what are the possible performance metrics and applications from data?
b) Table Schema and Granularity - what are you going to collect? What are the dimension and fact tables you will be collecting? How to store unstructured data?
c) Entity- Relationship Diagram - This is for embedding in the business rules that all datasets need to follow.
TLDR: As a startup, it is good to plan early on building data capabilities, if it is in the roadmap especially, and start with data collection.
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