The data-driven organization: building a data strategy
The data-driven organization puts data and analytics front and center in its business strategy and throughout all echolons. It differentiates itself from competition by making data-driven optimization part of daily operations.
Many companies today are striving to become data-driven. But what does that mean exactly? More than just installing the right tools and applications, becoming data-driven is about making data and analytics part of the business strategy, its systems, processes and culture. It’s about creating a mindset in which analytics form the basis of all fact-based business decisions, and are embraced by all levels of the organization.
Just like electricity, data has become a basic enterprise asset that is quickly revolutionizing the world, enabling better, faster, cheaper business processes. Data-driven organizations are committed to gathering data concerning all aspects of the business. By enabling employees at every level to use the right data at the right time, data can foster conclusive decision-making and becomes part of the companies’ competitive advantage.