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How to Build A Data-Driven Decision-Making Culture?

In today's new normal, we all are surrounded by an increasing amount of data in all aspects of our day-to-day lives. No wonder, individuals and companies are creating and maintaining vast amounts of data, and that data is increasingly becoming more varied, faster, and more complex. Only those who have the skills and expertise to handle and use data properly can add real value. Yet for many companies, a data-driven, strong culture remains elusive. Why is it so difficult and overwhelming?

What is a Data-Driven Culture?

Creating and nurturing a data-driven culture is all about replacing gut feelings and intuitions with data-derived facts, whether they are results from advanced analytics models, or simple key figures such as profits or revenue. By focusing on a data-driven culture, an organisation can empower all its employees to improve initiatives, make more effective decisions, and enhance the unique selling proposition and/or competitive advantages of the brand.

The primary purpose of a data-driven culture is to come up with new, data-driven use cases, experiment with analytics solutions, and discover patterns in data while encouraging all employees to collaborate to keep data at the helm of decision-making. It is worthwhile to note that data-driven culture is enabled and empowered by management of data quality, access to data, technologies that enable data to be prepared and analysed, and methodological knowledge for data analysis.

Steps to create a data-driven culture

  1. Maintain a clear vision: To establish a successful data-driven strategy, it's important to have a clear vision leading to perfectly-executed data centricity across all aspects and departments of the organisation. The first step will be all about understanding data analysis patterns as they will be crucial to finding value from the data. In order to get started, you can leverage data analysis tools. Furthermore, the combination of Machine Learning (ML) and Artificial Intelligence (AI) in a data analytics environment will help your organisation extract invaluable insights from data.

  2. Make data accessible: The primary purpose behind every organisation's intent to implement a data-driven ecosystem is to make sure that all data obtained from different sources can be easily and securely accessed by all authorised employees. This is primarily because the entire workforce will work in collaboration and data stored in the cloud can help your organisation make the data available to all.

  3. Collaboration between departments: There is no denying the fact that change in an organisation is facilitated by people, not tools. No positive change can be termed complete in the absence of diverse teams with specialised skill sets.

  4. Properly maintained data: A vital aspect of the concept of data evolution is data maintenance. Whenever required, data should be easily accessible, up-to-date, and clean. Therefore, data cleansing and enrichment should be incorporated to manage and maintain your data properly.

  5. Promotion of internal competition through reward systems: Your organisation can nurture the true spirit of data-driven culture among team members by encouraging healthy competition. For this, your organisation can offer a range of incentives and rewards on how well your teams perform.

Discover innovative ways on how your organisation can drive the business to new heights and establish new standards by opting for a data-driven culture. Reap the innumerable benefits of data transformation by nurturing a data-driven culture by calling us at C.I.G Consultants now!


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