In terms of gaining a competitive edge, relevant data has no equal and can effectively transform your enterprise for the better. However, communicating the necessity for a data-driven culture to your coworkers and managers might not be as simple as that.
According to Learn G2, 90% of large global organizations had appointed a Chief Data Officer (CDO) in their rosters by the end of 2019. In addition, 85% of business leaders expressed that Big Data and data analytics will dramatically change the global landscape in the coming years.
Recording, storing and subsequently analyzing the data that comes through your enterprise can lead not only to innovation and growth but also to a better reputation. In practice, you never know when a certain piece of data might become necessary and whether or not you have stored it somewhere for reference. With that, let’s discuss what makes a data-driven culture a must in 2020, as well as some practical ways to implement it in your enterprise.
Benefits of Fostering a Data-Driven Culture
In order to better understand the purpose behind gathering and analyzing data in-house, we need to talk about the role of corporate data. In the age of cloud-based services, digitalization and eCommerce, data is everything.
By streamlining existing processes and introducing new data-driven decision-making possibilities, a culture which fosters information will undoubtedly flourish on the global market. According to CFO, internal enterprise sectors which benefit the most from a data-driven culture include finance (51%), IT (30%), and analytics department (28%).
Jeremy Brook, Head of Data Management at Subjecto had this to say on the matter: “It’s impossible to thrive without heavy, daily reliance on data. Failing to provide a sense of informational security for your B2C and B2B stakeholders will signal that you are unwilling to go the extra mile. This makes introducing cloud storage, backup units and standardized data recording practices highly relevant in today’s digital age.”
Leading by Example
Data-driven culture has to start somewhere in the enterprise, and the best way to do that is to start at the top. CEOs, board members, managers and other executive staff should lead by example and implement data-gathering activities to promote positive change in the company.
Simply ordering employees to do this or that won’t work if the upper management doesn’t abide by the new rules, and change is always difficult. Be the agent of change in your company and promote data-driven behaviour by using services that promote better productivity and data management.
Data Gathering & Business Goals Alignment
An easy way to promote data-gathering and storage in your company is to align those activities with your business goals and existing work ethics. For example, if your enterprise stands for data security and privacy, the data-gathering activates you try to implement should revolve around that mission statement. Writing tools such as Write Scout and Evernote can be used to write and format data-gathering guidelines and requirements for internal company use.
This will allow your coworkers to identify with the new data requirements and see the bigger benefit in their implementation. Additionally, you will effectively put your mission statement and company goals into practice, showcasing that you are dedicated to your cause to outside stakeholders.
Relevant Metrics & Outcomes
Creating objective KPIs and outcomes for your data-driven culture is one of the most practical ways to promote healthy data storage habits. Luckily, objectivity is easy to implement in data-driven cultures given that they revolve around quantifiable information. Services can be introduced and managed with the goals of gathering, storing and analyzing data whenever it becomes necessary.
To that effect, it’s good practice to let your coworkers know about concrete KPIs, long-term outcomes and benefits of a data-driven culture. Illustrating a bigger picture of “why” and “how” will effectively foster a more positive outlook on the data-gathering initiative and result in better coworker reception.
Employee Training Matters
Implementing a data-driven culture can best be done by introducing seminars, teambuilding and informative meetings for your coworkers. Make sure that they are aware of and are able to understand the significance and role of newly-introduced data management activities.
Content creation platforms such as Readable, Studyker and Canva can be utilized to write and format creative presentations for your coworkers’ convenience. Be proactive and don’t simply mandate new data-gathering activities without the “how-to” — meet your employees halfway and they will return the favour generously.
Showcase Results & Prototypes
In order for your enterprise to remain data-driven, your coworkers should see some results from the newly-implemented processes after some time. This can be done in organized meetings, emailed reports or scheduled company presentations focused on the collected data and its significance for your company.
Failing to showcase your data management performance and results of the said initiative will quickly lower your staff’s morale and lead to a poor data-driven culture. Alternatively, giving your coworkers insight into the effects of collected data, developed prototypes and innovation which stems from it will drive your data culture further.
It’s easy to summarize that the efficiency and end-results of data gathering and analysis will depend entirely on the ways in which you communicate them. Find ways to use data management processes and cloud storage for your enterprise’s benefit, not just as a popular trend to implement for modernity.
In doing so, you will signal to the global market that your enterprise is serious about development, growth and relevance of data in 2020. Most importantly, existing and future stakeholders will feel more confident and trustworthy of your services, advocating for your enterprise in their social circles going forward.