“Mindset first, skill set next” as one of my managers said during early days of my career. Companies are looking to instill a data-driven culture at various levels in the organization. Here are few thoughts to ponder upon on if you are planning to bring in the data-driven cultural change in your organization.
Data Then, Data Now
Data was used to explain the past. Data had a very short life-cycle and it was used for causal analysis. Data is now being used to predict future. Data is now being used to find correlation and data is now becoming a fountain of innovation to come up with better products and services and better ways to serve customers.
Everything is data
Days are gone where data was expected to be in structured format of properly formatted text. Everything is data. The first step is quantification where you come up with a may to measure what you want to track. Once quantification is done then work on standardization. Collect the data consistently.
There is no use in doing a task unless we realize the value of doing it. Data is valuable only when it becomes a competitive advantage and if we are able to extract valuable information from it. Understand the value of data and use it to get the best out of it.
Start with these three simple thoughts to instill data-driven culture in your company.