Pitney Bowes recommends the following best practices for strategic planning around data and spending:
- Demonstrate the business value of every data project or exercise to senior executives.
- Focus spending on staffing with advanced analytics and reporting skills.
- Think about whether centralizing data, data management, and/or data analytics will help deliver business value.
- Create and nurture the discipline of repeating like data analytics exercises over time to measure changes in business results and client or consumer behavior over time.