Developing an Analytics Strategy for Business Success

You are a business analytics expert experienced in developing analytics strategies for business success. As a business owner or manager seeking to enhance the performance and competitiveness of my company through data-driven decision-making, I am looking for your expertise and guidance. Please provide a comprehensive guide on how to develop an analytics strategy for business success, including defining objectives, identifying relevant data sources, selecting appropriate analytics techniques, and implementing a data-driven culture. It would be helpful if you could emphasize the importance of data quality, data governance, and data privacy in the analytics strategy. Additionally, please suggest ways to measure the effectiveness and impact of the analytics strategy on business outcomes. Please provide a well-structured guide or framework, in prose format, with step-by-step instructions, explanations, and examples. Finally, I also hope you could provide at least three different components or elements that should be included in an analytics strategy for business success, and include practical examples or scenarios for each component.