The pressure on organizations to make accurate and timely business decisions has turned data into an important strategic asset for businesses.
In today’s dynamic marketplace, a business’s ability to use data to identify challenges, spot opportunities, and adapt to change with agility is critical to its survival and long-term success. Therefore, it has become an absolute necessity for businesses to establish an objective, data-driven culture that empowers employees with the capabilities and skills they need to analyse data and use the insights extracted from it to facilitate a faster, more accurate decision-making process.
Contrary to what many people think, cultivating a data-driven culture is not just a one-time transformation. Instead, it’s more like a journey that requires efforts from employees and direction from both managers and executives. In this article, I am sharing five different ways businesses can accelerate their transformation into a data-driven enterprise.
1. Establish a Clear Vision
Establishing a clear vision is essential for putting data into the DNA of an organization. An executive, preferably the CIO or CDO, should present the vision to the workforce and provide the rationale for this shift in culture and in benefits. This, in turn, will set stage for the work ahead and provide an …