The use of data by organizations to improve the efficiency of their operations and drive innovation is accepted by all professionals. Since the beginning of the XNUMXth century, companies have been applying "scientific" management techniques to better capitalize on their assets, both physical and human. However, the last decade has seen the emergence of new tools and techniques, as well as new sources and forms of data that are changing the landscape of business planning and innovation.
According to Forrester Research, “A new type of company has emerged: knowledge-driven companies. They grow at a rate of more than 30% per year and are going to reach a profit of 1.8 billion dollars in 2021. These companies obsessed with client systematically take advantage of the knowledge throughout their organization and implement them to create competitive advantage through technology.
Similar research from other consulting firms highlights the emergence of companies dominating their sectors and creating new markets by generating actionable insights through data collection and analysis.
For business leaders, the key question is what are the defining characteristics of data-driven businesses and what can organizations do to compete with the new leaders?
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Keys to a data-driven organization
How can an organization leverage data as a strategic asset? If done well and in an orderly manner, an organization can harness information to grow its business.
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Data literacy in organizations
People and technology are the two keys to maximizing the power of data for the organization. This means a growth in organizations hiring data specialists and in analytics and self-service capabilities to extend the influence of data across multiple departments and teams.
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Data Governance Keys
To extract the maximum performance from data environments, both at an operational, commercial or business knowledge level, one of the most relevant aspects is to propose the best practices for data governance and analysis.
