A data-driven company is an organization where every person who can use data to make better decisions has access to the data they need when they need it.
Being data-driven is not about seeing a few canned reports at the beginning of every day or week; it's about giving business decision makers the power to explore data independently, even if they're working with big or disparate data sources.Businesses that use data and analytics effectively gain a competitive advantage and also see a strong return on investment.
Being a Data Driven Organization brings real benefits:
Closing the gap between ideas and results Solving complex, ambiguous, non-linear problems with data and analytics, from strategy through execution.
Faster to market Using data and analytics for speedier insights and the potential to use data-driven insights to take first mover advantage and disrupt your industry.
Practical, executable recommendations Tight alignment between business objectives and analytical findings leads to practical recommendations, and increases the likelihood that the organization will embrace the recommendations and take action.
Greater resilience Gaining agility in the face of dynamic market forces as a result of using data and analytics intelligently and efficiently.
Improved performance Upgrading essential capabilities by building the systems and tools needed to support data analytics and integrating them existing technologies throughout the organization.
Intelligence in the moment and a stronger capability for predicting the future A data and analytics strategy at the core of your operations generating both immediate results for the issue at hand and insights to build upon to anticipate future challenges and opportunities.
To become a data-driven company the belief in the importance of the integrity and quality of information needs to permeate the culture of the company at all levels. It is not enough to start a formal data governance program, becoming data-driven requires a disciplined shift in the mindset of all employees towards maintaining the integrity and quality of their data.