Understanding The Need for Data-Driven Business Operations
In the current economic climate where customers expect more from the organizations with which they do business, companies are looking to be more responsive and improve efficiency while cutting costs. Data is a fundamental enabler of new business processes and applications, allowing organizations to deliver contextually relevant recommendations, predictions and forecasting to customers and workers, increasing efficiency and improving customer service.
All businesses utilize at least some form of data processing and analytics, but the most successful organizations build an entire culture around it. Data-driven organizations stand to gain competitive advantage, responding faster to worker and customer demands for more innovative, data-rich applications and personalized experiences. Although many organizations may aspire to be more data-driven, identifying and defining the steps required to achieve that goal are not necessarily easy.