Every day, companies generate data and the flow of information increases exponentially, which can make analysis and informed and effective decision-making very difficult. Information comes from numerous data sources and a more detailed and organized study is needed in order to direct the direction of the business.
Therefore, it is very important to take advantage of these opportunities that technology offers, as they make the strategic decision-making process even more efficient, which generates a competitive advantage in the market. But how can this be done correctly? In this post, we will talk more about the importance of data in a company and how to use it as a basis for decision-making. Enjoy reading!
How important is data for decision making?
Broad view of the customer
Real-time data analysis enables more satisfied customers and also provides a global view of them. In addition, it is possible to identify their preferences and communication bottlenecks that prevent the dissemination of data.
It is possible to find the most serious problems with information capture systems and correct them more quickly. This way, the organization can decide which path to follow, ensuring a more personalized service that is in line with what the consumer really needs.
More agile processes
Real-time data management systems disseminate information in a condensed manner, enabling immediate analysis. This procedure reduces the need for large reports to analyze the data, since they are already ready to be analyzed.
In this way, employees who were previously responsible for collecting data and preparing these reports can now be available for other tasks. In other words, not only does data analysis become more agile, but it also enables other procedures to be more effective, as they have the collaboration of all sectors of the company.
Failure reduction
When there is access to data in real time, it is possible to have a clearer and more precise image of the situation of business operations, significantly interfering in strategic decision-making, since they will be in line with the company’s objectives, resulting in fluent processes that do not harm productivity.
By using data analysis tools, all useful information will be available on a single platform, making processes more agile and considerably reducing the chances of failures in activities, mainly due to the possibility of predicting events. If cloud technology is used , access becomes even simpler, and can be done from any device connected to the internet.
How to ensure that decisions in your company are made based on data?
Identify the problem
Have you ever stopped to think that you have been focusing all your efforts on a hassle that was not well-described? If so, you may be sure that you are not by myself. That is when we realize the importance of identifying the problem we are dealing with. It is essential to have expertise approximately what desires to be solved in an effort to make the right choices and enhance the consequences of the company.
Define indicators
After identifying the problem, it is necessary to define indicators that can be analyzed and that will guide the mapping of possible solutions. Since the digital revolution, any action can be measured. It is important to ask the following questions:
- What is needed to perform a mapping in order to solve such a problem?
- How will I perform this mapping?
- How important is this information for possible solutions?
It is also worth noting that the more complex the situation, the greater the need for questioning. However, never lose your timing — calculating the right moment!
Group data
In the structuring process, it is possible to group data. The vast majority of managers do not have enough time to group data and information. Identifying tools that are capable of collecting, structuring and classifying them in a standardized way, extracting their real value, is a simple solution to this situation.
Use reliable management software
Reliable software is designed to monitor business activities and is responsible for presenting indicators in real time. The fact is that the more technology advances, the more we need to work with huge volumes of data.
For this reason, it is essential to have a system in your company that is capable of analyzing them and transforming them into solid information, as they are fundamental for generating good insights and serving as a basis when making decisions, which significantly increases the chances of achieving the expected results .
Create a data-driven culture within the company
It may be that the hesitation to use data as a basis for decisions is linked to the lack of a data-driven culture in the organization, that is, there is not yet a team guided by data, which makes it difficult to achieve objectives.
In other words: verifying data, in itself, is nothing new. A serious organization knows that it must carry out prior studies, such as customer interviews and market research, before taking any action.
Finally, it is important to emphasize that the evaluation process is carried out according to the company’s demands. For this reason, it provides useful information, facilitating the understanding process and helping in strategic decision-making. In addition to avoiding errors and enabling the prediction of occurrences, this procedure provides an overview of the company and the client.
