Data Driven Culture in businesses
Enough of decisions based on intuition, guesswork, and past experiences.
A Data Driven organization is capable of transforming data into assets that can be monetized and increase revenue. Data functions in Data Driven companies go through efficient procedures in order to transform them into profitable business actions.
This Zoox Smart Data eBook on Data Driven Culture will help you demystify some concepts and start applying some notions of data intelligence in your organization's day to day life..
Strategic Data-Driven Decisions
Fortune magazine's list of the 500 largest companies in the world has undergone drastic changes over the years. Since 1955, when the ranking was inaugurated, only 51 remain in 2020.
Besides the turnover, the list shows the impact that innovative companies have achieved over the past 60 years. And this effect is likely to increase due to the digital transformation.
However, it is not only the fact that they are digital or modern that will make them gain more market positions, but that there is less and less room for error. And these can be minimized if the company is data-driven - that is, has a Data Driven culture.
The principles to have a Data Driven management:
✔ The Data Driven culture starts at the top
✔ Metrics, such as predictive analytics, are essential
✔ All employees must use data
✔ Invest in tools to acelerate data collection
✔ Provide constant training for the teams
✔Generate insights from the collaboration of other areas
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