How does your “data-driven” organisation stack up?

Written by Paul Scholey, VP of International Sales, Sisense

The term “data-driven” is thrown around a lot in the business world these days. And for good reason, it’s an ambition many companies aspire to realise. After all, a data-driven organisation is touted as being innovative, flexible, and productive. It sees benefits that extend to the bottom line and beyond, with companies delighting their customers, reducing costs, increasing profits, and maintaining a competitive advantage all with insights powered by data analytics.

In fact, 52% of the 1,700 European business decision-makers surveyed by Dun & Bradstreet said they doubted that their firms could even survive without having relevant, up-to-date, and compliant business data on hand.

Yet despite the advantages and the fact that a NewVantage survey revealed a whopping 99% of firms have invested in data initiatives and 92% reported the pace of that investment is accelerating, just a mere 24% of firms said they have actually created a data-driven organisation.

If these figures are representative of reality, then where’s the disconnect? Shouldn’t we be seeing more data-driven organisations?

It all comes down to the simple fact that organisations need to do more than make significant investments in analytics, business intelligence, and other technologies — they have to get their employees and shareholders to buy in.

Want to know if your organisation is data-driven? Ask yourself these key questions:

 

  1. Does your organisation have leadership that supports a data-driven culture?

According to a survey by Harvard Business Review, nearly 75% of organisations don’t have leadership that supports a data-driven culture. 

To be truly data-driven, that’s going to have to change. If your organisation’s key decision makers aren’t committed to embracing data, how can they convince everyone else to? It’s up to them to lead by example, trusting the data instead of relying purely on intuition to make the majority of their decisions.

 

  1. Does your organisation have a clear and well-communicated data strategy?

In the NewVantage survey, only 30% of companies reported having a well-articulated data strategy. 

Why is a data strategy that’s well-articulated matter? It provides staff the relevant, useful data they need to perform well in their roles. And if your data strategy is tied to your key business objectives and priorities, then you invite people to make important decisions with it in mind.

 

  1. Does your organisation have siloed and hard-to-access data?

If you answered yes to this one, it’s not ideal. But again, you’re not alone — according to a report by Arm Treasure Data, 47% of marketers said their data was siloed and difficult to access.

Being unable to gather a consolidated view within a single department is one thing, but getting a single source of truth across an entire business is quite another — and that’s what happens with data that’s isolated and obscure data. When this happens, an organisation lacks a critical sense of cohesion, making it hard to all be on the same page.

 

  1. Does your organisation have difficult-to-use tools?

A Deloitte study revealed that 67% of managers and executives reported that they were not comfortable accessing or using data from analytics tools. And a Qlik/Accenture survey highlight that 74% of employees expressed feeling overwhelmed and unhappy when working with data.

Not everyone is a data analyst or scientist, nor should they have to be. Building a data-inclusive culture requires tools like Sisense that make the data experience inviting and user-friendly, not offensive and burdensome.

 

  1. Does your organisation have integrated data workflows?

By simply integrating tools into your team’s existing workflows, data becomes a natural extension of their work — not another task to check off their to-do list.

 

In short, while there are many obstacles businesses have to overcome in becoming data-driven; there are just as many opportunities. Leaders must develop a new vision around what it means to be an intelligence-led company. They should advocate for an organisational culture that adopts analytics as more than just a best practice, but the only practice going forward. And they must also redefine what it means to be data-driven.

 


About the Author

 Paul Scholey, Vice President of International Sales, Sisense

As Vice President of International Sales, Paul Scholey is responsible for growing the Sisense business in EMEA and APAC. He brings over 25 years of experience in the software industry, having previously worked in and led teams in consulting, pre-sales, and sales. Paul has a track record of growing early stage and midsize software companies, with specialisation in building sales teams focused on accountability and value-based selling. Most recently, he was SVP of International at BlueJeans by Verizon. Prior to that, Paul held a variety of leadership positions at Oracle, Teradata, Pentaho and Business Objects.

About Sisense

Sisense goes beyond traditional business intelligence by providing organizations with the ability to infuse analytics everywhere, embedded in both customer and employee applications and workflows. Sisense customers are breaking through the barriers of analytics adoption by going beyond the dashboard with Sisense Fusion – the highly customizable, AI-driven analytics cloud platform, that infuses intelligence at the right place and the right time, every time. More than 2,000 global companies rely on Sisense to innovate, disrupt markets and drive meaningful change in the world. Ranked as the No. 1 Business Intelligence company in terms of customer success, Sisense has also been named one of the Forbes’ Cloud 100, The World’s Best Cloud Companies, six years in a row. Visit us at www.sisense.com and connect with us on LinkedIn, Twitter, and Facebook.

Editor

Lisa Baker is the Editor of International Business News. As the Owner of Need to See IT Publishing, Lisa is an experienced business and technology journalist and publisher.

5G News

Basel to bring the best of fibre optics as ECOC Exhibition’s Market Focus and awards open for entries

The event will be held in Basel, Switzerland 19 May 2022 – From 19-21 September 2022, the Swiss city of Basel will host technologists, thought leaders and decision makers, as part of Europe’s largest exhibition for the optical communications industry. Exhibitor booths, face-to-face networking, live ‘Market Focus’ presentations, product demonstrations and an award ceremony will […]

Read More
Accountancy & Accounts Accounts and Accountancy News Pensions

‘Pensions are a long-term investment and have time to recover’ Quantum Advisory addresses ICAEW members after global financial markets react to Russian invasion of Ukraine

Experts from pension and investment specialists Quantum Advisory addressed members of the Institute of Chartered Accountants in England and Wales (ICAEW) on the turbulent global investment market and the knock-on effects on UK pensions schemes. Partner and Actuary, Stuart Price and Senior Investment Consultant and Actuary, Kara Newcombe headlined the free hour-long virtual session which […]

Read More
Birmingham Food & Drink News

Commonwealth culture and cuisine served up at city-wide food festival

Food and music from across the Commonwealth will be served up at a series of free, vibrant events in Birmingham. Ten food and cultural experiences from Commonwealth member nations are taking place across the city, giving visitors authentic, healthy tastes and experiences from around the globe and promoting understanding of the food that celebrates Commonwealth […]

Read More