According to McKinsey Global Institute, companies who are data-driven are 23 times more likely to attract customers, 6 times more likely to keep them and 19 times more likely to make money. This level of success demonstrates that leveraging data is now a major goal for many companies. But becoming a data-driven enterprise goes beyond investing in technology and automation, it requires changing your culture and changing the ways you think about work, think, and behave. This requires the right team and leadership, as well as a strong commitment to orchestrating changes efficiently.
How do you know if your company is ready to become an enterprise that is data-driven?
A data-driven company is one that makes use of data to support every function and process. This includes improving the internal operations of business and providing more enjoyable experiences for customers. It also involves making faster, better decisions, as well as identifying and reducing financial risks.
To become a data-driven business, your organization needs to adopt a holistic approach data that includes strategy, technology, governance, skills, and people. The primary factor in this is having one source of truth, which is achieved through eliminating data silos, developing scalable data integration platforms that can perform unidirectional meta-data tracking, as well as making data accessible to everyone through self-service tools and learning journeys.
Adopting a data-driven culture can help your business build trust in the results of its analytics. By establishing an attitude of data literacy and addressing metrics frequently and early, your company can have more confidence in its results and identify improvement http://www.codaten.de opportunities much earlier.