Having a Data Culture is your passport to survive and thrive in the new digital world. An organization is considered to have a mature data and analytics culture – i.e., high analytics maturity – when data is being appropriately leveraged to optimize day-to-day decisions toward enhanced performance and growth. Just like Rome, Data culture is not built in a day.
You are also not done with it once you have it; developing a data culture is an ever-evolving journey. However, a fair amount of work is needed upfront to get the ball rolling in the right direction.
Reasons for why data culture matters :
- The organization leaders understand the power of data and analytics and have a strong motivation to lead by numbers. It makes the entire process more effective and successful. Leaders lead by example and ask the right questions to unmask the correct information. They need to hold people accountable for decisions while checking whether a structured approach has been followed or not.
- People can access data with ease, and that data is accurate.
- Both the analytics and the non-analytics side of the organization have an appropriate data literacy level.
- There is a mechanism to make decisions in the organization, which is aligned with the business’s critical drivers so that everyone understands how their work moves the key metrics, thereby adding value to the company. For e.g., how a company allocates marketing budget is a good representation of whether data has a place in the decision-making process or not. A data-driven organization has a structured planning and review process like a Quarterly Business Review with a clear and transparent decision-making process. Data is part of that process. At the manager level, there is a clear and transparent process by which projects get prioritized, and data-driven insights are very much part of those decisions.
- Helps in understanding customers’ needs and product usage. This insight helps them develop better products and create a delightful customer experience, thereby driving more significant revenue and rapid business growth
Now that we understand the importance of data culture let’s talk about getting started on your journey.
At Aryng, we have a comprehensive analytics maturity assessment method based on detailed stakeholder interviews, executives’ voices, enterprise-wide surveys, data infrastructure audits, and an in-depth dive-in planning process. You can learn more about this here
Data culture can accelerate the application of analytics, amplify its power, and steer companies away from risky outcomes. That’s why building a reliable and robust data culture is the need of the hour!