"The facts are still because they are ignored."- Aldous Huxley
According to Forbes Insights, the data is the DNA behind the powerful analysis and ideas that are helping modern organizations to identify new products, determine how to better serve customers and improve operational efficiency.
Companies that adopt analysis have significantly more growth than those that are for adoption.These companies are also characterized by extending data digitalization and the adoption of the analysis throughout the organization.While leaders are rewarding rewards, challenges persist.Google notesThat 62% of executives still depend more on the experience and advice than in decision -making data.
Deluge of dice
Organizations from different industries are executed to adopt digital transformation.They want to remain competitive and boost business growth and innovation.But digital transformation comes with challenges, especially around data management.
Data are one of the company's most valuable assets, but taking advantage of data knowledge can be a challenge.Companies generally drown in data that cannot offer information and commercial value to serve their customers.
Only a few organizations have established data use practices to measure and optimize business performance, while only a small number of vendors can say they have a unified 360 -degree view of their customers.
Tangible commercial results with a well -designed database
Many companies see the data as the basis on which they want to create better customer experiences, improve operational efficiency and provide new innovative products.In the end, what matters most for companies is to collect all the necessary data in a way that reports decisions and impulses successful actions.
The analytical infrastructure created in a well -designed database is crucial for effective decision making and obtain the best commercial results.
Companies aspire to use data effectively, but face obstacles.According to Forbes Insights, only 47% say they have a solid data management process.% Struggle with data prioritization and 48% are challenged when determining the certain data that will be collected.
If the data is inaccurate or corrupted, the machine will not produce viable information.That is why it has a solid database built around the production and acquisition of data is crucial for success.
Modern Data Foundation gathers all the most critical data points, links them to the main performance indicators and creates a unique version of the truth and understanding of the data throughout the organization.
Take advantage of data information means making an analytical trip
The data value is directly linked to the way they are used and applied.It is possible that it does not have an impact on commercial performance, it can only affect a small percentage of the results of a company or can trigger durable commercial growth.
If you are just beginning your analytical trip, it tends to ask questions such as "What happened?"And then "why did this happen?"This is known as a phase of the descriptive analysis of analytical maturity.
As you advance in more advanced phases, the questions will also change.Now he has the basis of knowing "what" and "why", and will ask questions like "What will happen later?"The predictive analysis will provide answers to these questions and also.In addition, the prescriptive analysis will provide the following advice and action recommendations in the light of certain commercial events.
Analytical maturity model
Data information harvest can produce large commercial returns
Companies that enjoy, take advantage and integrate processable ideas about their daily decision making are better positioned to differentiate themselves and can create a sustainable competitive advantage.Forrester's research indicatesThat "triggered" organizations are growing on average more than 30% per year.
Data ideas are changing the basis of competition.The main companies are using their resources not only to improve their main operations, but also to launch completely new business models.
According to Gartner, organizations thatEnjoy fast ideasFor digital trade, it will reach at least 25% of income improvement, customer satisfaction and cost reduction.
If you are not informed by the data, it will repeat the same errors
When focusing on commercial results, you can have your digital view and turn it into ideas and data strategy that provide tangible and measurable results.Start with your existing data and itera for success.
The oratory analysis allows you to stay updated with changes in the market and allow faster, better and more precise commercial decisions in real time.