Data-Driven Culture: That digital transformation has been changing how we act, think and work is nothing new for anyone following industry trends.
Some concepts arise and reinvent everything that has always been followed. Among these applications is the Data-Driven Culture, which reinforces the power of information for a company.
Within this perspective, data becomes the strategic center of the entire company. The way we interpret and use them guides decision-making and may — or may not — increase the exponential growth of a business. However, data-driven behavior needs understanding and dedication to be implemented wisely and absorb the best that the data has to provide.
But after all, what needs to be done? First of all, continue reading this article. In it, we’ll explain how and why you need to implement this science within your organization. Follow!
Understand what is Data-Driven Culture
To simplify the understanding of the data-driven culture, the best way to define it is by the inclination of an entire company to analyze information and decision-making based on the extraction of data generated with the studies carried out.
Companies are armed with information that comes in all forms. Big Data, for example, is the primary tool for working with such data, from the moment of collection, extraction, manipulation, reading and strategic construction of information.
Thus, the first step to ensure that your organization has information as its agenda is necessary to efficiently prepare the relationship between users, tools and data. Only then will they be able to use what they have at hand for the strategic decisions of the team and the rest of the company.
Learn How It Works And What Is Its Impact On The Market
More than ever, it’s critical to stay ahead of your competition. Market intelligence is present precisely to ensure your company stays caught up. For this, it is necessary to have strategic decisions in hand that enhance results.
In this way, the Data Drive Culture is a concept that allows using all available information in the best possible way to guarantee a competitive advantage. The greater the clarity of the decisions, the greater the accuracy of the results.
Business Intelligence and Artificial Intelligence are examples of technologies that provide data with significant insights, which organize and clarify management in its decisions.
Get To Know The Implementation Process Of The Data-Driven Culture
As with any culture change process, if it is focused on data, it is not a simple action and will be visible overnight. It takes a few steps before, during and after, which we’ll discuss below.
Goal Setting
Any project starts from a specific objective, which, in this case, will not be definitive. What is expected with this culture: evolving in the market, expanding the target audience or optimizing the service? With the purpose in hand, we can define monitoring indicators that, in the future, will serve to determine whether what was expected was achieved.
Action Planning
Defining the actions, we will have as a basis what are the following ways to be followed to put the new cultural perspective into practice. For example, we can launch a particular time — such as a day or a week — to explain why this movement is being made and the paths everyone should follow in the future.
Identification Of Key Areas
This step is performed to ensure the best possible data collection. Determining which areas most need certain information helps in the new culture and optimizes the decision-making processes.
For example, the commercial department needs consumer behavioral data. Therefore, we must provide him with inputs that allow an in-depth understanding of the area.
Use Of The Best Tools
It’s important to know what information to collect and how. The best way to ensure this is by providing tools that can gather the data correctly, mine it, and distribute it according to the goals defined in the initial process.
Integrated software is excellent for this, as it allows for the automation of data-related processes.
Transformation Of Information
Finally, the process of choosing the relevant information for decision-making is the crucial moment — after all, if something goes wrong, all the work up to this point will have been lost. So, check if the data transformation is by the objective, if the indicators can be achieved and what impact they will deliver to the company.
See The Main Reasons To Implement It In Your Company
A data-driven culture provides different results for your organization beyond optimizing outcomes, from better customer service and cost reduction to process agility.
Check out some of the main reasons why you need it:
More agility in decision-making: the more significant the skill to make decisions, the further ahead of the market you will be. The practice of data-driven allows anticipating the information and taking necessary strategic actions;
Greater operational efficiency: handling data is only sometimes a simple task, as it requires practical and functional knowledge. A fully programmed environment for the use of data makes the team more operationally prepared for it;
Ease in identifying and quantifying market opportunities: one of the essential points to staying ahead of the competition is knowing how to identify opportunities. The information and complete analysis of the socio-environmental permit to achieve this objective;
A better understanding of customer behavior: the main reason a company exists is to serve a specific target audience — and the more you know about this group, the better the support. For this, data analysis must be complete and as analytical as possible.
The market increasingly asks for movements that differentiate companies. If such a need exists, why not use what is already in our hands? This is the central vision of the Data-Driven Culture: benefiting from the information extracted throughout the processes and from the reading of this data for decision-making.
Also Read: How Big Data Analytics Can Change Business Management
