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Co m pl I'm en ts why External Data Needs to Be Part of Your Data & Analytics Strategy Joseph D. StecREPORTWhy External Data Needs to Be Part of Your Data and Analytics Strategy Joseph D. StecBeijingBoston
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01
Identify the specific purpose for which external data is needed, whether it is for analysis, decision-making, research, or other use cases.
02
Research and determine what type of external sources of data are available that could potentially meet your data needs, such as public databases, APIs, social media platforms, and third-party data providers.
03
Assess the quality, reliability, and relevance of the external data sources to ensure the data will be accurate and useful for your intended purpose.
04
Establish a process for collecting and integrating the external data into your existing data infrastructure or systems, taking into consideration data security, compliance, and compatibility issues.
05
Regularly monitor and evaluate the performance and effectiveness of the external data sources to ensure they continue to meet your data needs over time.

Who needs why external data needs?

01
Businesses looking to gain competitive insights and improve decision-making through access to additional data sources.
02
Researchers seeking to enhance their studies and analysis with supplementary external data sets.
03
Government agencies looking to enrich their data collection practices and enhance public services with external data sources.
04
Data scientists and analysts searching for new variables and perspectives to enrich their data models and predictions.
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External data needs refer to the requirements for information that organizations must gather from outside sources to meet regulatory, operational, or strategic objectives.
Entities such as businesses, government agencies, and organizations involved in activities subject to specific regulations or reporting requirements are required to file external data needs.
To fill out external data needs, organizations should collect the relevant data from external sources, complete the necessary forms or documentation, and ensure compliance with specified guidelines before submission.
The purpose of external data needs is to ensure that organizations obtain necessary information for compliance, decision-making, risk management, and to provide transparency to stakeholders.
Organizations must report information including the source of data, methodology used for data collection, relevance to organizational goals, and any associated risks or compliance implications.
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