As the amount of data is growing rapidly in all industries, people and companies need to know how to handle data properly in order to use it for their own purpose and get value from it. The major shift in today’s business world is to turn from gut-feeling-insights to based-on-data-insights.
Managing an organization’s data is not just a technological issue as the answer is more from a social perspective. Two main challenges are at the core of all obstacles companies may stumble into:
📊 Data Literacy: having the ability to read data and understand it is a game changer. It empowers all levels of workers to communicate with data, build knowledge and make decisions.
🤝 Data Trust: data becomes useful when people use it. The more comfortable and confident people are with data the more they will be able to use it in specific contexts and build stories on their own.
Overcoming these challenges brings solid foundations to develop a successful data strategy within a company. Those can’t be handled in one day, but investing time and money in Data Literacy and Data Trust are for sure long term benefits as they strongly induce:
The success of all data and analytics initiatives depends on shared objectives and visions between business and data strategies. Well-communicated information across the different teams will help better identify opportunities and assess components across the projects.
A data culture encourages data interpretation, fosters interactions between people and facilitates connection. A collaborative approach uncovers insights more quickly and delivers more accurate answers.
Speaking data language leads to developing critical thinking and helps to see the bigger picture. Accurate decision-making improves performance and provides a better competitive advantage in the business environment.
Leading these data changes with a dedicated person, being able to adopt a holistic approach as a Chief Data Officer does, is the right move if you want to initiate a deep data transformation.
We built YOOI as we strongly believe people will remain at the core of an effective data strategy, and they need the right tools to build it and generate factual insights from it efficiently.