Some years ago, I saw a TEDx speech which emphasized the need for empirical validation of organizational interventions. Accordingly to this, we can see that today there is a trend for top companies around the world to use data to make decisions about their business – data-driven decisions more than decisions driven by instinct.
For an experienced specialist, it can be easy to say that he doesn’t need data to make good decisions. In their defense, I can admit that it is important to be confident with the source of your data and with the methodology used to analyse that data. Only if you are confident with these, you can count on them more than your experience.
Against these, I think that there are more advantages of taking into consideration of data-driven decisions:
- You remain competitive in the market in comparison with all the other companies which do this
- You can be more customer focused
- You can save costs and time
- You can see some opportunities you were so close to miss them
- You can prepare the innovation
Becoming a data-driven organisation is a little more difficult than waking up in the morning and deciding to use data to drive your business decisions. It’s not just about selecting the best analytical tools that will help you derive insights from data. It’s about realigning your organisation’s culture to make sure that everyone knows the value of the data and how to make the most of it. It is a the change that has to come from the top.