Data-driven decision-making is defined as the use of facts, metrics, and data to guide strategic business decisions that align with an organization’s goals, objectives, and initiatives. When an organization makes the most of the value of its data, everyone who works there, from the business analyst to the sales manager and the human resources specialist, has the ability to make better decisions, every day. However, this is not achieved by simply choosing the right analytics technology to identify the next strategic opportunity.
Your organization should set data-based decision-making as the norm. In other words, it must create a culture that promotes critical thinking and curiosity. People at all levels engage in conversations based on data and develop their knowledge of the data through practice and application. For this, fundamentally, a self-service model is required that gives people access to the data they need, as well as security and governance.
Skills are also required through training and development opportunities to enable employees to acquire knowledge about the data. Finally, having executive support and a community that supports data-based decision-making will motivate others to follow the same path.
Establishing these core functionalities will help to promote data-based decision-making at all levels of work. In this way, business groups will ask questions and investigate regularly in order to discover useful information to facilitate the action.
