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Data is all around us. In fact, the world creates 2.5 quintillion bytes of data every day. And with new technologies like the Internet of Things, wearable technology and connected cars – the amount of data will multiply.
In fact, by 2020 it’s estimated that 1.7 megabytes will be created every second for every person on earth.
To take advantage of this increase in data, your business needs to embrace a more data-orientated culture. Here are our five suggestions on how to do this without spending a fortune.
Build a crack team of current employees to be a part of your data team. This should be a small unit with a passion for making the most of your data.
The team will need:
We’re willing to bet that not all your employees have had much experience in statistical analysis, despite it being a crucial skill in the data age. Thankfully, with the right software and training, you can ensure your business is full of analytical thinkers.
Allowing your employees to get to grips with your data is a major step in creating a data orientated culture. Especially if you have large amounts of data.
Unless you struggle with large quantities of data or fundamental data problems, you should have your first actionable insights within a few weeks. But it doesn’t end there, getting to grips with your data is an ongoing process. So, don’t expect immediate perfection.
Give your team the tools necessary to do their job in a timely, efficient way. Don’t waste time and money on programming it yourself. It may seem like a large upfront expense, but it pays off in the long term with the faster delivery of data insights.
These tools can include business intelligence platforms, data integration suites, data quality suites, and databases. You will have to decide whether to keep data internally or to utilize an external service like AWS.
Spend time testing the tools before you purchase them. Most available tools allow a trial, so you can see if a tool is the right one for you without committing to a long-term contract.
If you want the business benefits of your data, you must ensure its quality. You need to be obsessive about it. After all, any business insight is only as good as the data it’s based on.
Test new insights against their equivalent older ones. If there is a difference, find out the cause. This will help you guarantee the accuracy of your new insights. Not only that, but if users can’t trust the data you present to them, a data orientated culture becomes much harder to achieve.
When creating your data architecture, make sure it’s future proof. Ensure your team has the future of your business in mind. You need to be able to add new data sources, ensure scalability, deliver insights on different platforms and migrate to a new service provider.
You should also have the ability to view external data as there can be interesting correlations between your business and macro-economic trends.
Once your data team starts work, tell the rest of your business how important their activity is. After all, you may run into resistance from colleagues who don’t like change. But if you lead by example and show everyone how the new data insight tools can make their lives easier, they’ll come around eventually.
Although appointing a data team is vital to establishing a data-orientated culture in your business, it’s only the first step. Next, you’ll have to establish a ‘critical mass’ of data orientated people. To do this, you’ll need to foster an environment where these people thrive.
However, demonstrating to people that data is an invaluable asset to their job can be difficult and takes time. It will be tough, and you’ll have to make some tough decisions on the way, but in the end your business will be better off.
Here are some tips on how to create a data-friendly environment, what to keep in mind and how to spread the word about data culture.
Companies with a data culture treat their data as a common resource – like the internet, a printer or the office water fountain. Everyone should be able to access the data they need to carry out their work.
It’s up to your data team to work with your IT department to provide a secure portal where they can easily access actionable, accurate information. Without this, user confidence in data would plummet - undermining your efforts to build a data orientated culture.
This can be done with a business intelligence (BI) software that anyone, from a data scientist to a departmental manager, can use.
If you want to truly become a data-oriented company, you need to factor in your growth plans. After a few years you may need a more universal BI software.
During the selection process, you should ask questions such as:
Remember to also train your employees in how to use any software you adopt. Don’t let new tools become a frustration: provide your team with resources for fast learning.Choosing Data Integration Software: 8 Essential Questions to Ask
First and foremost, your data team needs to create an environment where data is available to all. But, once that is established, their roles will change. They should become involved in:
When you embrace data across your business, you allow everyone, at every level, to make better decisions. So, be sure to follow the steps above to help you establish a data orientated culture. But, as you do, don’t be afraid to experiment. These are the steps we recommend, but your business is unique and so may require a more tailored approach.
If you’d like to learn more about how your business can create a successful, data-orientated culture, get in touch today.