Question

What is the purpose of a company's data strategy?

(a) to collect, store, manage, share, and use data

(b) to monitor data usage to manage infrastructure budgets

(c) to set up its IT infrastructure to collect data

(d) to market and sell its collected data to users

Answer 1

(a) to collect, store, manage, share, and use data

A data strategy helps by making sure that data is managed and utilized effectively. By ensuring data is used effectively and efficiently across projects, the project objectives provide a common set of goals and objectives.