What is a data-driven company and how do you become one?
"A data-driven company is an organization where every person who can use data to make better decisions, has access to the data they need when they need it. being data-driven is not about seeing a few canned reports at the beginning of every day or week; it's about giving the business decision makers the power to explore data independently, even if they're working with big or disparate data sources."
A company needs to meet the following three objectives to qualify.
- It should be able to not only draw data from a variety of internal and external sources, but also be able to blend that data in an analytics engine and distill it down to actionable insights.
- These insights should drive real-time decision making that infuses every level of the organization.
- The data should yield quantifiable results downstream that in turn, inform the organization about which data sources are yielding results.
There are three key components of becoming a data-driven organization.
- Build a data warehouse
- Connect the most critical data sources
- Share data through dashboards, analyses, mobile business intelligence, storyboards, and report
|Sample process in Social Media |