Hi, everybody, I'm Matheus Pereira, Data and BI Coordinator at Advice by levva. I'm here today to talk about the importance and the applicability of Data Driven Culture. Have you ever heard about it? If not, check out the text I prepared on this subject for you to leave here being an expert and willing to apply the concept in your company.
The Data Driven Culture is a culture guided by data, which allows the manager to make more assertive decisions, not based on "guesswork". This approach emerged from the need for companies to adjust themselves to a constantly changing, highly competitive business environment.
According to this management philosophy, everyone starts making decisions based on data. Of course, each person's background helps to achieve good results, but if you have the data available, in addition to empowering your decision making to be more assertive you also end up debunking a lot of things that exist in the realm of "guesswok".
The company that adopts the Data Driven Culture is able to make more accurate decisions, which can lead to better and more consistent results in the long-term. And now you may be saying "I have never done this in my company and everything works fine". That may be true, but I'll give you an example:
Think about a GPS. I am in Araraquara and I want to go to São Paulo. Can I make this trip without using the GPS, in other word, without being guided by data? Yes, but I won't take the best route and it may take me longer to get to my destination. With the GPS I have in hand the best routes, I can find out if there are accidents along the way and I will get to my destination faster, more efficiently, spending less fuel and reducing risks.
Gathering and analyzing data is the starting point of the Data Driven Culture. Data analysis is one of the most common ways to obtain information about customer behavior and market trends.
Our focus is to lead the customer to the decision, helping him throughout the journey until he can choose the most assertive paths and make anticipations. So you don't have to wait until the end of the month to see what happened to your results and then make a decision.
Our team is present in large organizations with many professionals being involved. We often realize that managers already understand that they need to implement a Data Driven Culture, after all, they already make decisions based on data. However, this process does not work in the best possible way because this data is decentralized and the team ends up spending many hours to access and analyze it.
What we want to show and implement is exactly the productivity and the best way to enhance the analysis and structure them. One of the difficulties that I mostly see in companies is not even the collection of data itself, but the way in which the data is structured. Many times, they are not organized in a way that people can analyze the entire data and say "I need to work on this number because it is not good".
Many companies work with several huge reports in different databases that don't interact with each other. So every time they need to make a comparison, they have to open different documents and perform this analysis manually without any optimization of time and resources.
Our role is to structure this process: sitting down with the client to understand what, in fact, is going to make a difference in their company, what is going to make them move the dial. From there we will collect this data and put it in a structured environment that tells a story and is not just thrown into a spreadsheet.
Having a well-structured spreadsheet is not enough, that data needs to be turned into information that is up-to-date and available when the customer requires it.
Once data is collected and analyzed, companies can begin to apply it to improve business performance. This can include using data to develop new products or services, enhance the customer experience, reduce costs, or improve operational efficiency.
It is also important to keep in mind that Data Driven Culture is not an instant solution, but rather a long-term approach to improve business performance and lead the organization to make the best strategic and operational decisions.
No, Data Driven Culture can, and should, also be used in other areas of the company such as human resources, marketing, and customer service. A company can, for example, use data to recruit and retain more competent employees, or to develop more targeted and effective marketing campaigns.
Data Driven Culture can help companies adapt more quickly to market changes. By collecting and analyzing data regularly companies can identify trends and new consumer behaviors before they become obvious to competitors. Doing so can help them stay ahead of the competition and adapt quickly to an ever-changing environment.
Security in the data area is critical even among organizational levels. In the data pyramid of a company we have three levels: the operational, tactical management, and the board of directors.
Operational: People look at the data and are guided by it in their daily work.
Tactical management: They look at the data in order to achieve goals.
Board of Directors: they need to have access to the whole, looking at the data analysis in a more consolidated and strategic way.
And when we have these three levels, it is necessary to have a security structure for this data so that the operational area does not see the data from other areas and the board can have an overall view. In addition, it is important not to have leaks because this is a practice that could ruin a project or a company.
Data is already and will always be an essential area within companies. Whoever is not aware of it will be left behind because many companies are already adapting to the Data Driven Culture. It is clear that those who don't have data analysis will not be able to evolve and, consequently, will not be able to take timely decisions.
In the fast-paced world we live in with many technologies and changes every day, if you don't have the power to make a decision quickly, you can put your entire company at risk. That exposes your operation to risks, because other companies and probably your competitors are already concerned with this reality and are designing strategies to become more and more efficient.
Many companies have already identified this need, but are still struggling to figure out how to be efficient with data and apply it on a daily basis. Within organizations, we see a lot of "ah, there's a person who understands Excel, so she can do this report for me" attitude and then they put this person in charge of the data area.
That is why it is so necessary to have the support of professionals who are really data driven. When we go into our clients' companies we understand their pains and start delivering results that are based solely on the data they already have. From that point on, they are delighted and will never give up on data-driven decision making.
That's all for today folks, I hope you enjoyed the content and understood the importance of the Data Driven Culture, which is a practice that is here to stay.
Oh, and if you liked this text, you will certainly be interested to read this article here about Data Discovery.After all, Data Discovery is the initial step to implement a good Data Driven Culture.
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