According to McKinsey Global Institute companies that are data-driven are 23 times more likely to win customers, six times more apt to keep them and 19 times prone to make money. This level of success makes it clear that leveraging data is now a top priority for many companies. To transform into a data-driven business it is necessary to change your culture, alter your work habits and think and invest in technology. This takes the right team and leadership and an ability to manage changes effectively.
How do you know if your business is on the right track to becoming an enterprise that is data-driven?
A business driven by data is one that makes eine analyse fur datenorientierte unternehmen use of data for every process and function. This includes enhancing the internal operations of business and providing more enjoyable experiences for customers. This involves making faster, more effective decisions, and identifying financial risks and reducing them.
To become a data-driven enterprise, your business needs to have a comprehensive view of data, which includes security, strategy, governance technologies, skills and personnel. The most important factor is having one source of truth. This is achieved through eliminating data silos, creating high-performance data integration platforms that can perform unification of meta-data tracking and democratizing access to data through self-service tools and learning journeys.
The adoption of a data-driven mindset aids your company in building confidence in the outcomes of analytics. By creating a culture of data literacy and talking about metrics early and often your business will be more confident in the results and will be able to recognize opportunities for improvement earlier.