Advancements in technology have seen the world of business embrace data, making it easy to assume that everyone is taking equal advantage of this new resource. Recent studies, however, have revealed that companies across a range of industries are struggling to establish a data driven culture. Randy Bean and Thomas Davenport report that 72% of survey participants have yet to forge a data culture, and 53% state that they are not yet treating data as a business asset.
There is endless value in data, and by creating a data-centric culture that understands and utilizes this resource you are better able to manage the associated risks, while reaping the many rewards.
When it comes to creating a data driven culture, there are a few things you can do. The first is to invest in the right data related equipment and tools. Whether this is a machine learning tool to provide data quality assurance checks, or business intelligence software to help create better end-user processes. Once you have the right tool set, an effective way to engage your staff is to open your tools to wider data pools, engaging more areas of the business and multiple branches of staff. This creates a culture of data enthusiasts, opening up a space where data is not only accepted but sort after.
Educating your staff will go a long way in helping them understand and embrace data. Every API is different, so ensuring your staff are aware of the relevant nuances allows them to better strategize using the data they have acquired. If your CIO is able to set data-centric goals which bring value to your business, then data becomes an actionable tool to improve your business in a multitude of ways, and with KPIs in place your staff will be more motivated, more educated and your business will thrive.
Are you confident in your ability to make the most of your data? At AtoBI, we understand every aspect of data analytics, and our professional consultants can help you create a data plan best suited to your business needs. Contact us today to find out more about how data can transform your business culture.