How To Transform Your Company To Be Data-driven

By Author: Bappaditta Jana
Total Articles: 67
Comment this article

Having a data-driven organization is quintessential in the present era, where information is the greatest asset for any organization. However, before you take any action, make sure your team is prepared to embrace data at the next step.

Your stakeholders should support your decision to invest in a Business Intelligence solution that fits with the objectives and organizational structure of your business.

Here are a few steps to help you transform your business into a data-driven organization.

1. Merge your many data sources onto a single platform.

Data from all company functions, such as marketing, sales, and customer service, may be integrated to ensure consistency and accuracy.

Once data is connected and analysts can begin analyzing, you can make a significant effect quickly, which can help to change cultural norms and persuade important stakeholders to trust and use data in their everyday operations.

2. Create important KPIs to direct the business's approach

To become data-driven, businesses should concentrate on important analytics to distinguish ...
... fact from opinion and arrive at rational, unbiased business decisions.

To make this happen, Key metrics must be singular. Businesses cannot chase a plethora of performance measures, each team pursuing its own favored set.

Also, measurement metrics must be attainable and long-lasting.
In other words, you shouldn't frequently change important measurements.

3. Eliminate silos and enable access to data

Companies must actively work to eliminate data silos and give teams access to shared definitions and clean data sets if they want to become data-driven.

The ultimate goal should be complete data democratization, where every employee feels at ease drawing conclusions from various data sources and applying them to improve decisions.

4 Easily Readable reports

The majority of workers today are not very adept at processing and understanding data. This is why it's beneficial to optimize reports by making them pleasant to the eye and simple to read.

Irrespective of their abilities or experience, anyone can explore them with confidence by doing this. It is simpler for non-technical teams to access, comprehend, and utilize data in real-world situations when it is clearly shown.

Enhancing data literacy can also be accomplished by making reports simple to use and acquire.

5. Promote data-driven meetings

Providing cross-functional, data-driven updates to various teams is a terrific strategy to become more data-driven. According to best practices, firms should invite their data teams to take part in such projects.

Employees can ask queries to their coworkers who are knowledgeable about the answers when the data team is included.
Also, it offers more chances for development and learning.

6. Make use of dynamic data dashboards

Using interactive reports and dashboards, which let staff members access and engage with data in a safe and user-friendly environment, has proven successful for many teams.
Team members may easily evaluate data, iterate, ask questions, and get responses.

These are some of the steps you can take toward a data-driven organization, and this is where BI tools can be extremely helpful. Business Intelligence tools help ensure organization-wide access to timely, reliable, accurate, and consistent data which is quintessential for a data-driven enterprise.

Bappaditta Jana is a blogger who loves to spend his free time engaging in sports or gardening. Based in Kolkata, he is currently working with EasyReports an IT firm that has developed a BI reporting tool that can easily integrate with Tally ERP and many other applications.