Finding the Formula for Fostering a Data-driven Culture

 

May 27, 2019 11:30 AM

Finding the Formula for Fostering a Data-driven Culture

Shift to a strictly data-driven culture for an organization is as much about people as it is about technology. This must be laid on the tenets of empowerment, environment, tools, metrics, and processes.

The way an organization’s employees think about data must be improved drastically to advance the analytic capability aspirations within the organization.

Innovative Thought Processes Facilitates Learning

Employee empowerment through innovative thinking allows them to learn from mistakes through a mix of experimentation and iterative thought processes which proliferates and facilitates learning.

Embracing Forward-thinking Data-driven Approach

When the employees embrace the data-driven approach, it channelizes them to rethink their approach toward customers, while working on the lines of Business Intelligence and Analytics.

Foster an Environment of Transparency

An organization must and should foster an environment of transparency which allows employees to speak on collaboration, ideas around data. They must hold formal and informal dialogue on the premise of sharing data analytics.

This will help them gauge what is working out for them on the business front and what isn’t.

Cultivating a Data-Driven Culture

Teams must be aligned around the right metrics with a holistic approach to creating a strong data culture. The approach must have an emphasis on data credibility which can be used to make sound business decisions.

Armed with Right Tools and Processes

Business intelligence tools can always be employed for an organization’s data transformation approach. It can be useful metrics to judge consumer behaviour and patterns.

This thereby empowers teams to quickly understand conversion rates and insight into their mobile and web considerations.

Right Data Analytic Tools

If one wishes to lay the path for a strong business intelligence & analytics foundation of an organization then, the right thing is to be armed with the right data analytic tools and processes.

Data Analytics

High-Quality Data and Data Management

To secure its position for a data-driven culture and understand the insights and qualitative and quantitative behaviour organizations must use the analytic tools and processes. This will warrant it to get ahead in their journey in the current climate of disruption.

The foundation of high-quality data is fundamental to good data management and must be evaluated every time to develop robust data quality metrics to educate the employees.

Power of Single Source of Standard Reliable Data

A data-driven culture must have a single source of standard reliable data which is a far cry from analyzing inconsistent data. This allows in getting tangible results in a small or large organization, this is called good data literacy.

Every employee must know about the concepts of descriptive statistics, data visualization and inferential statistical tests to reinforce the tenet of a data-driven culture.

Ability to Convert Language of Systems to Business

An organization that has a central data team helps it to strategically connect with the language of the business with various departments thereby soliciting a data-driven culture through and through.

Understand How Data Connects to Own Organization

If companies don’t understand how data connects to their own company and culture but somehow, they are adept at making good case points for the client’s business through data prioritization and insights.

Such organizations are clearly missing out in establishing a data-driven culture and must make amends to rectify the same.