Overview of the Chapters on Data Strategy and Governance

C. H. Neumann Chew

Chapter 1 in Data Strategy and AI Value Creation:For Data Leaders by Data Leaders, 2025, pp 1-6 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Data are a core asset that need to be intentionally managed for value in use and integrity. The COVID-19 pandemic highlighted the importance, power, and limitations of data. In particular, everyone realized and understood the following at a much deeper level:Data must be timely. The “battle” is lost if key decision-makers do not have data in time to make decisions.Data must be accurate. Wrong or grossly under/overestimated data lead to bad decisions. People can die and businesses can fold due to inaccurate data.The right data to the right person. The data needs of different persons vary. We need to ensure the right data at the right granularity can be accessed by the right person.Certain data must be shared. Without access to critical data held by selected parties, efforts cannot be coordinated and outcomes cannot be optimal. But how do we share data in an effective and controlled manner?The value of data lies in the use of data. Data per se are just raw information. We need to extract insights from data to reveal the key information that affects outcomes. What processes and support structures can be set up to facilitate a successful data– insights–outcomes loop?…

Keywords: Data Strategy; Data Governance; Data Quality; Privacy Protection; Artificial Intelligence; Generative AI; Business Value; Innovation; Digital Transformation; Regulations (search for similar items in EconPapers)
JEL-codes: O3 O32 (search for similar items in EconPapers)
Date: 2025
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