In some organisations, a data-driven culture is misunderstood and reflected as a string of dashboards and generation of long reports across every department. This is not entirely accurate.
A data-driven organisation makes all its decision based on intelligent data analytics. Its progress is ultimately measured using data.
As opposed to gut feel and relying on HIPPOs (Highest Paid Person’s Opinion), accountability is sustained by data and team decisions are driven through detailed analytical reporting.
One of the major sources of data is the digital interactions which businesses maintain with their customers. Starting to use these data sources to reach meaningful insights can be quite difficult. Old habits sometimes die hard.
If you’re currently looking to depend on razor-sharp insights derived from high-quality data, it’s quite achievable.
These five tips will help you get started on the right foot:
Hire data-driven individuals
The very first step is to get the right team of data visionaries on board. Recruiting people who have the right skill sets will make the transformation seamless, considering the fact that they’re ready and willing to adapt to a data-centered system and also deploy their own data solutions.
If hiring for data analytics proves a bit tough, you can look inward and screen the talents in your marketing department, IT, and finance. A number of them should be data savvy, as they’re constantly developing strategies to drive business growth.
If you can’t hire them, invest in training the talent you already have. Help them discover new capabilities that are beneficial to themselves and your business.
Identify what data can do for you and align them with your business objectives
If your business doesn’t need data to thrive, you wouldn’t be reading this article in the first place. But have you asked the major question – what exactly can data do for my business?
Not all data is helpful for your business and it is important to identify what you’re looking to gain from building a data-driven team. You probably need new leads or need to understand processes that work and those that don’t.
Whichever one it is, be sure to look into your multiple sources of data and devote each insight into achieving the pivotal aspects of your business.
Establish easy and secure data access for everyone
Becoming data-driven will require you to create more channels to access large data pools. This is the only way to get actionable insights. In addition, you must ensure that its accuracy, as well as security, can be trusted.
Employ appropriate data tools
To foster easy integration and understanding of large data sets, you can invest in the right data tools that fit the objectives of your business. Depending on company policy, data can be centralized with a few individuals who are considered data experts.
On the other hand, transformational organisations make data available to everyone in the organisation – this beckons the need for a central spot where insights can be shared.
A great way to leverage this system is by investing in business intelligence software – a centralized data portal to define key metrics, where all team members can access data and receive recommendations.
An inventory of tools will definitely come in handy.
Hold your employees accountable
Your staff needs to understand that no decision will be taken seriously if it can’t be backed up with accurate data. Make sure every decision- making process is evidence-based and don’t hesitate to ask questions that begin with “why”.
As we have come to understand, data has gone beyond a mere tracking or reporting tool. It has become crucial to high-level decision making processes that give technical heads the opportunity to improve efficiency in organisations.
Gathering all that data is relatively easy but if it’s not being used to make the right decision, it’s simply incurring a cost.