How Can Businesses Adopt a Data-Driven Culture?
There are small steps that any business can adopt in order to start incorporating a data-driven philosophy into their business. An Economist Intelligence Unit survey sponsored by Tableau Software highlights best practices.
A survey made by Economist Intelligence Unit, an independent business within The Economist Group providing forecasting and advisory services, sponsored by Tableau Software, highlighted best practices to adopt a data-driven culture among other information relevant to the field of data science. To ensure a seamless and successful transition to a data-driven culture, here are some of the top approaches your business should apply:
Share data and prosper
Appreciating the power of data is only the first step on the road to a data-driven philosophy. Older companies can have a hard time transitioning to a data-driven culture, especially if they have achieved success with minimum use of data in the past. However, times are changing and any type of company can benefit from this type of information. More than half of respondents from the survey (from top-performing companies) said that promotion of data-sharing has helped create a data-driven culture in their organization.
Increased availability of training
Around one in three respondents said it was important to have partnerships or courses in house to make employees more data-savvy.
Hire a chief data officer (CDO)
This position is key to convert data into insight so that it provides maximum impact. This task is not easy, quite the contrary, it can turn out to be very specialized and businesses shouldn’t expect their CIO or CMO to perform the job. A corporate officer is needed who is wholly dedicated to acquiring and using data to improve productivity. You may already have someone who can be promoted to a CDO at your company: someone who understands the value of data and owns it.
Create policies and guidelines
After the CDO runs a data audit internally, it is relevant that company guidelines are crafted around data analysis. This is how all employees will be equipped with replicable strategies focused on improving business challenges.
Encourage employees to seek data
Once new company policies are in place and running, the next step is to motivate employees to seek answers in data. One of the best ways to do this is offering incentives (you pick what type). Employees will then feel encouraged to use (or even create) tools and find solutions on their own without depending on the IT guys.
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