A data strategy is a long-term plan that defines how an organization will manage its data assets, including technology, processes, people, and rules. It outlines the vision for collecting, storing, sharing, and using data. While developing a data and analytics practice seems complicated and expensive, having a data strategy is necessary for success. The strategy should be developed practically in 5 steps: 1) Define the current state by aligning with business priorities, 2) Set goals by capturing ideas and understanding needs, 3) Categorize projects as important and difficult, 4) Decide on actions based on risk and effect, and 5) Implement the strategy. Developing the right strategy involves the right people and allows for mistakes with changing technology