Every business either has or produces data. The first step is identifying data internally and externally. Internal datasets are created by the existence of the business itself while external datasets are created about or around each business. DataSmart has an approach to focus on each business unit, examining the data created and documenting the interactions and capabilities for each.
When you create your business or operate it, you are actually also creating and building significant amounts of data. This data exists only and specifically because your business has come into existence or continues to operate. As we break this down, you will see a common pattern to this type of data in that it is typically gathered, input, stored, and maintained by either you or your employees directly. While you may use platforms and databases to store the information, it would not necessarily exist if you were not in business.
The second category of data created about or around or tangential to your business is actually a far larger data set in most cases and we will discuss this in the next chapter. For now, it is important to understand the basic difference between the two because later, when we get into ownership rights and derivative use cases of data, each of these large groups has significantly different hurdles to usability in your data partnership strategy.
DataSmart Consulting systematically will map out your internal and external assets, helping to realize their value and the proper structures to protect them.