BROADCASTS.com

Data Strategy Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. In monetizing data for your startup, you\u2019ll need a data strategy. Here are the key components of a data strategy: Identify the problem to solve -- the problem must be specific enough to indicate the type of data needed to present a solution. Store the data -- you\u2019ll need to capture raw data, analyze it and create final data sets.\xa0 This requires a data platform for capturing and storing the data that everyone can access and share the results. Format the data -- you\u2019ll need to format your data into several forms so it can be used for multiple purposes by different groups. Analyze the data -- you\u2019ll need to analyze the data to create the result the customer wants. Manage the data -- you\u2019ll need to manage how the data will be used so you maintain compliance with government regulations. There are several governing bodies including Europe, state-level, and industry level requirements around use of data. Present the data -- you\u2019ll need a process for turning the data into meaningful results for customers such as data sets and presentations. In selling the data it\u2019s important to tell a story about what the data says.\xa0\xa0 Raw data is more valuable with an analysis of how a customer can use it.\xa0 Consider these elements in building your data strategy. \xa0 Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. Let\u2019s go startup something today. _______________________________________________________ For more episodes from Investor Connect, please visit the site at: \xa0 Check out our other podcasts here: \xa0 For Investors check out: \xa0 For Startups check out: \xa0 For eGuides check out: \xa0 For upcoming Events, check out \xa0\xa0 For Feedback please contact info@tencapital.group\xa0\xa0\xa0 Please , share, and leave a review. Music courtesy of .