I know, I get it, you’re tired of hearing the buzzword ‘data driven’ and about how your business should have a data driven culture—sorry, but I’m going there again. Based on facts and studies that have come out over the past year, it’s not just a buzzword, it should be a priority.
According to an average of 4 major studies over the last year from Gartner, Forrester and IDC, for example, one key fact is that data driven organizations grow 27% faster year over year.
We certainly see this in our business. Companies that are investing in their growth and their data are growing at a much faster rate and they’re coming back to us for more new innovations to continue to grow. A couple other facts to share:
- 83% of data driven companies saw their process cycles improve compared to 39% that weren’t
- Over 30% of them cut their operating expenses compared to 1%!
Let me put this another way. If you’re not trying to drive your company with data and move your system to the cloud to take advantage of all that offers, you stand a 99% chance of not reducing expenses. Crazy, right? Why would you want to be in that category?
So, buzzword or not, make sure you understand what a data driven culture is and make sure you know how to do that in your organization. If you don’t understand, here are a couple pointers:
- Focus on driving fact-based insights. There can be a lot of bias on technology and process within your organization, but don’t succumb to the highest paid person in the room’s opinion. Work off facts and make the right decisions.
- Make those best decisions based on the data, the team and the resources that you have to implement those kinds of changes.
Pragmatic Works does these types of sessions for customers all the time. Let us help you achieve your data driven culture. Click the link below or contact us to have a conversation about how we can help you think about your data differently, how to take advantage of your data and what the trends are for your type of business—we’d love to help.