USING DATA FOR EFFECTIVE POLICY-MAKING IS CRUCIAL– 3 WAYS TO BRIDGE THE GAP BETWEEN THE TWO

by Rudrajit Chakraborty Digital Marketing Expert

In the digital era, data is everywhere. According to a recent study, people create almost 2.5 quintillion bytes of data every day. These unstructured clusters of information reach enterprises through various channels including social media apps, blogs and websites, business apps, mobile devices, and more. Organizations need to transform this collection of raw data into valuable pieces of information if they want to take advantage of data when devising policies. But how to do that? How to leverage those figures and numbers to plan your policies efficiently? As the decision maker for your company, knowing the answers to these questions is crucial because you stand to gain immensely by becoming a data-driven organization.  Here is where business consulting firms can add value to your operation. They can show you the ways how your organization can use Big Data to drive critical business decisions and increase revenues.  

Glean Actionable Insights

Your strategy consulting partner is the best person to show you the ways you can digest the data for better decision making. They bring the big picture in front of you so that you can understand what actions you should take and how you can use this information to expand your business.  It’s now proven that data-driven organizations outperform their counterparts, whose decisions are not driven by data.

Align Company Culture With the Goal of Becoming Data-Driven

The first step to becoming a data-driven organization is to revamp your organization’s culture so that every employee comes to realize the value of data. Those who are in the leadership position should drive the change. Besides investing in the right technological infrastructure complete with analytical tools to make sense of the huge volume of unstructured data, they should also take initiative in showing their teams how data can prove to be beneficial for their organization.

Expand Without Extra Investment

Is this really possible? Yes. Several brands did that. Sprint is a good case in point. This telecommunication giant experienced a rise in their customer base, without investing in extra resources. So, what was that worked for this company? They used specialized analytic tools to analyze customer data in real time. The knowledge enabled them to address network issues and optimize resource efficiency, ultimately improving customer experience, and cutting delays in the delivery rate.

Organizations cannot become data-driven overnight. They need to follow a process where investing in the right technological infrastructure becomes the first major step. They must select the right analytical tools to be able to transform data into actionable insights.  However, the path to becoming data-driven is ridden with challenges. You’ll have to engage business consulting firms to help you make data work for your organization. Undoubtedly, it’s worth attempting to rebrand yourself as a data-driven entity – you become a part of the elite club of world’s forward-thinking companies that use data to draw out effective strategies, which in turn make them better able to respond to changing market needs.

 

 

 

 

Sponsor Ads

• Ad Space Available - Rent it Now!

Created on Jan 3rd 2019 05:50. Viewed 331 times.

Comments