Data Driven Company is a company that uses data to make business decisions.
Business Intelligence is more than just a collection of software and visualization tools. The added value comes from the processes of delivering the necessary knowledge to end users, using it properly and supporting decision making processes. This means that without the right processes and people, tools are worth little. Data driven companies are a method of work organisation and company culture.
The purpose of transformation is a repetitive process of data conversion into information. It should be remembered that they only have value if there are processes in place to support its effective use. This means that business needs to work with IT and BI departments.
How to become a Data Driven Company?
There are many levels of data-oriented organisations. One of the exemplary models is that proposed by Microsoft:
- What happend? Predefined reports providing answers to the question of what happened in the organisation, showing the measured processes and their context. It also includes defined, managed and visualized KPIs at the personal, departmental and global level.
- Why did it happen? More detailed reports for comparing different business processes. Analytical tools for independent data mining.
- What might happen? Statistics methods, data mining, predictions allowing to consider the influence of different decisions and processes on future results.
- What should I do (recommendation)? Comparison of different results of planning, predictions, models, decisions.
- What should I do (automation)? Automation of selected business processes and decisions.
Each transformation process starts with the first step. Only an effective strategy can achieve the objectives set.
I write about the process of transformation and implementation of a culture oriented towards data on the blog.