What is a data-driven company?

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.
  1. 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.
  2. These insights should drive real-time decision making that infuses every level of the organization.
  3. 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 

Business domains