Data is everywhere. From what you look at on your phone to your favourite Netflix shows, brands are able to use it to get what you like (or they think you like) in front of your eyes.
But as an organisation, how can you become data-driven? And what does that even mean? Data isn’t simply about technology; cutting edge solutions and predictive models won’t achieve anything standing alone – but a data culture throughout the business will.
Data as an asset
Just as revising for exams helped you get the right answers, data helps you pass the test of producing the right products or services, for the right people and marketing them in the right way. As a core asset, which could be just as critical to growth as your team or equipment, data can facilitate evolution of business models, enabling greater customer understanding, product development and even new revenue streams. While organisations throughout every sector rely on data, many are not aligning business goals or strategy with data application and, while they gather and store data, they are subsequently not data driven.
Becoming data driven
It all comes down to one thing: creating a data culture which involves every member of the team.
From the top, senior stakeholders need to be consistently aligning business strategy with data to ensure objectives are measurable and motivated through data. But this data needs to be high quality, accessible and understandable – after all, you wouldn’t want your construction team using diggers that weren’t serviced, locked in garages with no operation manual, so why should your data be just as difficult to use? Then get your people onboard. Provide data that can help every individual do more in their roles, and understand the impact they can have on business success through measuring their own contributions. Everyone needs to understand that data has value – but you need to prove that to them by empowering them with the data they produce.
Then you need the tech to underpin it.