Is your company data driven?

Data allows us to reach more accurate conclusions and can be a great differential in the business world.

In the era in which digitization flooded practically all of our activities and decisions, companies need to ask themselves if they were able to consolidate as “data driven”. Of course, before answering, it is essential to reach a consensus on what this concept means.

«Gathering data» is not a difficult task. It is enough to accumulate those that are kept by the management systems before each transaction and add to them those emitted by the sensors connected to the internet of things, the interactions of people in our digital spaces -websites, social networks- and even unstructured data options, like the emotions and feelings they express about our brand in those same virtual environments.

This specific data from the World Economic Forum never ceases to surprise: it is estimated that by 2025 no less than 450 exabytes per day will be generated throughout the planet. How much does that represent? Something like three billion MP3 music discs. Or 250 billion installations of Windows 10. Or 15.75 billion average-size games. The amount of data is uncontrollable.

Data Driven Skills

In a world that increasingly produces information without limits, to achieve the status of data driven, a company needs to incorporate more actions: the challenge includes capturing those that serve the purposes of the business, managing them, storing them in such a way that they are easy to use; recover and protect them in your privacy and, fundamentally, align it with your own needs.It is, therefore, a cultural change that consists of eliminating some of the components of corporate decision-making, such as intuition or experience -which often leads to biased views and conclusions with a wide-ranging view that are very limited on the market, customers or the company itself – and replace them with knowledge based on data.

The person who needs a piece of information, if he or she has the proper authorization to read or manipulate it, must be able to access it at the right time, from wherever they are and through a different device. And no matter where they are stored – corporate data center, public cloud, hybrid schema, edge – they must be consistent at all times.

Data: the main organizational asset

Once all of the above is guaranteed, the company can have the peace of mind that it is in a position to obtain the benefits provided by the data, considered in this 21st century that is advancing at sheer speed and at great vertigo, as one of the main strategic assets -if not the main one- that organizations have.To consolidate on the path towards the data driven model, a company needs to have a leadership committed to the paradigm shift, a team of collaborators aware of the importance of this new scheme and with critical thinking and a systematic decision-making process. Both prospective as well as retrospective, fully supported by data.

The ability to deliver a unique and unforgettable experience to each customer, the ability to forecast and meet demand with tremendous precision, the opportunity to produce with optimum accuracy without an ounce of waste, the tools to satisfy and retain the best talent in the industry. market… All these actions have one element in common: they can be carried out with the greatest success within the framework of a data driven company.

Signs along the way