Step by step: how to make data-driven decisions?

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Becoming a data-driven company is something that all organizations should aspire to today in order to remain competitive. And, to achieve this, it is essential to know how to make data-driven decisions . We leave you a step-by-step guide that will serve as a guide on this path.

What do we talk about when we talk about data-driven decisions?
Many companies are wondering how to make data-driven decisions and achieve the success that this promises. However, to understand the current need, we must understand the context.

In a scenario of increasing hyper-digitalization, companies will have an ever-increasing amount of data, which will accumulate at an unprecedented rate.

This information , properly stored and analyzed, is what provides key knowledge for the business and must be democratized, regardless of the role the employee occupies within the organization.

The latter means that the power of data can afghanistan phone number lead only be activated when people take ownership of it and act on it.

This is why it is important for employees to have the opportunity to create their own analytical models . This is synonymous with driving a successful business culture based entirely on data.

In this sense, self-service analytical models are a valuable and important tool for medium and large companies, because they allow users to access reliable, secure and highly relevant information for decision-making.

In this way, managers and middle managers can access data visualization and exploration themselves, being able to design dashboards and run reports, regardless of their level of knowledge in Analytics and Big Data.

This is where the value of modern analytics lies: the ability to search, manage and analyse information, even if you have no expertise, to drive data-driven decision making.

How to make data-driven decisions?
To fully understand how to make data-driven decisions and actually execute a strategy in that direction, companies need to know that it involves much more than just investing in analytics platforms.

It is a cultural change within the organization that involves all employees and their continuous training for making smart decisions. When the value of data is fully exploited, everyone who works in the organization has the ability to make better decisions, every day.

Below, you can learn step-by-step how to make data-driven decisions.

Step 1 – Identify the business goal and vision
Without a clear horizon and context, tables and analytical models will have very little meaning.

Before you can make data-driven decisions, it's essential to understand your company's vision and future goals : more sales, increased web traffic, brand recognition, etc. This will help you make better use of your data and choose specific metrics and indicators.

Step 2 – Find key data sources
The next step is to find the data sources you will be working with. You can use different tools for this purpose, depending on the type of data you collect.

Surveys and feedback from company teams are ideal for collecting the most important data sources, as they help answer the questions that users ask in their analysis and prioritize data sources that go in that direction.

Additionally, feedback helps guide the implementation of the analysis and the future state of the business: roles, responsibilities, processes, metrics, architecture, technology.