Basic guide to making better data-driven decisions
Posted: Tue Jan 21, 2025 5:50 am
Making decisions based on data is essential. But how can you ensure that all company employees know how to develop this intelligence? We will tell you about it in this article.
What is the importance of data-driven decisions?
If digital acceleration and the massive use of technology in companies have shown anything, it is that data-driven decisions allow for increased profitability and the continuous improvement of business processes.
Today, the modern world demands that organizations use analytics based on the agile delivery of data that is always up-to-date and reliable, because it provides key business knowledge and democratizes information, regardless of the employee's role in the company.
However, achieving this involves much more than having analytics platforms that provide attractive visualization. It is about an organizational cultural change for making good decisions .
A BI leader, business analyst, IT manager or estonia phone number lead newcomer to the world of data must know how to govern it to generate business value and take advantage of competitive advantages.
7 insights for making data-driven decisions
Data-driven decision experts believe there are seven key perspectives to achieve them. We invite you to learn about them:
1. Moving from data historians to data visionaries
Although historical data is important, it is no longer enough.
In times of uncertainty, companies must react to changes in real time, which is why next-generation analytics is rapidly evolving to include “data in motion,” focusing on the right moment and providing contextual and 100% up-to-date information.
2. Moving from technology that replaces humans to technology that multiplies their capabilities
Technology must be an ally that empowers all users to drive business value. To do this, it is essential to combine technology (such as artificial intelligence) with human intuition in a synergistic way.
3. Go from tunnel vision to peripheral vision
Linear data exploration is rigid and does not allow for effective and secure data-driven decisions that adapt to the rhythms of today's business.
For users of all skill levels (not just experts) to discover insights, they must have access to free, interactive exploration of all data, without barriers or waits.
This means having an analytics platform that combines a large number of data sources, providing high-performance associations and calculations as users interact with it.
In this way, peripheral vision is achieved where users can work at the speed of thought.
4. Moving from relying on experts to self-sufficient users
Everyone in a company should be able to interact with data in a simple and intuitive way , and not depend on experts to do so.
Natural language processing (NLP) is essential to enable everyone to ask questions of data without the help of experts, driving answers quickly and making data-driven decisions .
5. Go from working blindly to digging deeper into the data
The world is changing at an unprecedented speed and businesses can no longer just keep up – they need to stay ahead of the changes. Providing decision makers with the right data in the right place at the right time is therefore critical.
Smart alerts enable better action based on insights and a sophisticated rapid response strategy that fosters deeper user engagement.
What is the importance of data-driven decisions?
If digital acceleration and the massive use of technology in companies have shown anything, it is that data-driven decisions allow for increased profitability and the continuous improvement of business processes.
Today, the modern world demands that organizations use analytics based on the agile delivery of data that is always up-to-date and reliable, because it provides key business knowledge and democratizes information, regardless of the employee's role in the company.
However, achieving this involves much more than having analytics platforms that provide attractive visualization. It is about an organizational cultural change for making good decisions .
A BI leader, business analyst, IT manager or estonia phone number lead newcomer to the world of data must know how to govern it to generate business value and take advantage of competitive advantages.
7 insights for making data-driven decisions
Data-driven decision experts believe there are seven key perspectives to achieve them. We invite you to learn about them:
1. Moving from data historians to data visionaries
Although historical data is important, it is no longer enough.
In times of uncertainty, companies must react to changes in real time, which is why next-generation analytics is rapidly evolving to include “data in motion,” focusing on the right moment and providing contextual and 100% up-to-date information.
2. Moving from technology that replaces humans to technology that multiplies their capabilities
Technology must be an ally that empowers all users to drive business value. To do this, it is essential to combine technology (such as artificial intelligence) with human intuition in a synergistic way.
3. Go from tunnel vision to peripheral vision
Linear data exploration is rigid and does not allow for effective and secure data-driven decisions that adapt to the rhythms of today's business.
For users of all skill levels (not just experts) to discover insights, they must have access to free, interactive exploration of all data, without barriers or waits.
This means having an analytics platform that combines a large number of data sources, providing high-performance associations and calculations as users interact with it.
In this way, peripheral vision is achieved where users can work at the speed of thought.
4. Moving from relying on experts to self-sufficient users
Everyone in a company should be able to interact with data in a simple and intuitive way , and not depend on experts to do so.
Natural language processing (NLP) is essential to enable everyone to ask questions of data without the help of experts, driving answers quickly and making data-driven decisions .
5. Go from working blindly to digging deeper into the data
The world is changing at an unprecedented speed and businesses can no longer just keep up – they need to stay ahead of the changes. Providing decision makers with the right data in the right place at the right time is therefore critical.
Smart alerts enable better action based on insights and a sophisticated rapid response strategy that fosters deeper user engagement.