How much of a difference can a good data-driven marketing strategy make? The winning combination always comes down to: data, creativity, and media. Therein lies the power of data driven marketing, but not only that! Creating highly personalized company-customer relationships is certainly another benefit that data driven marketing offers by transforming the organization into adata driven company. The main goal in data-driven processing is and remains to deliver an increasingly superior customer experience through the fantastic power of data and its analytical problem-solving capabilities. And if you haven’t yet had a chance to test how much data can change your … business life, after reading us I hope the spark of change may have been ignited in you, the same spark that teases data and makes it capable of revolutionary things and suitable for every kind of business that wants to grow.
Knowing how to read data: the importance of analysts
Data, data and more data! What is more measurable today than data? Many companies have data at their fingertips, but this mass of information does not always turn into value. Why? The lack of people within one’s team who know how to read and interpret it is still really too small to study it in depth and derive valuable information from it. So what to do? Or rather how to act? Talking about data-driven strategy has now become the common thread for multiple organizations that rely on data and what powerful things they possess to grow and expand more and more.
But the path to being adata-driven company is impassable because it requires not only maximum competence and professionalism but a strategy shared by the entire work team. And many companies are still part of that pool that does not possess all the characteristics listed above. And while data culture struggles and enters the corporate mindset, there is also a lack of professional analysts willing to grow and grow the business through the power of data. In fact, according to 65 percent of CIOs surveyed by KPMG‘s 2018 “CIO Survey,” finding profiles with the right skills and capabilities is increasingly complicated But let’s start with resources. It is true that it is very difficult to find resources that make data their raison d’être in the company, but it is equally true and disarming that once they are found the company has extreme difficulty in figuring out how to leverage the capabilities because to do so they need to relate to decision-makers in order to understand business guidelines, making all departments equally aligned. The way forward at this point might just be to allow ample room for movement within the company by promoting a data culture. Because integrating data into all areas of the company thanks to these analysts can only accelerate the process of becoming adata-driven company, dispelling any doubts about the impossibility of translating it, making it understandable for comparison with the outside world.
Data Integrity and the Data Driven Enterprise.
There is a lot of talk about data integrity and how this aspect should be considered a prerequisite for any reality that likes to call itself a“ data drivencompany.” But what is meant by the noun integrity and how substantial does it prove to be for enterprise data analysis? Integrity, in its primary meaning, stands for being whole, complete in every part. And that is precisely how data is defined: its being complete, purged of everything that hinders it, makes it impregnable. Making sure that the datum is of quality and valid is crucial, and to do so requires:
- Verification of the origin and life cycle of the data;
- the adoption of measures for its protection and maintenance through Cyber Security and Data Science tools, so as to prevent its manipulation. Data Security, which refers to the protection of data from unauthorized access, is a necessary process to ensure the integrity of data
Being able to maintain Data Integrity is good and right for several reasons:
- Intact data ensures its recoverability and traceability. Protecting the data can only increase its validity over time as well as its performance by improving reusability.
- When the data is intact, as per the definition above, it can be exploited for various purposes such as targeted strategic marketing campaigns.
Data Value: difference between Business Intelligence and Data Science
Let’s start with an almost inescapable assumption: there is no data-driven strategy for the enterprise without an analysis that is able to establish a priori the data that is really needed for the purposes of its implementation. This is because data collection of little value equates to decisions that lead unequivocally down a “dead-end” road. The customer is the center of the world for all companies that decide to treat them as a valuable asset and not as a mere business product. Many companies, especially in recent years, have espoused this line of thinking by putting the customer and his or her real needs at the center. To do this, the study of the customer is the essential prerogative, and data collection is the source from which to study his or her behaviors, interests and habits. For clarity, let’s take a simple example. Imagine walking through a maze completely blindfolded. One can try to do it without any indication with the risk of banging one’s head several times without knowing if one will ever reach the destination or with someone to show us the less treacherous and more performing way where the way out is there this time and it is certainly the best possible way out. Here, this is what data offers: the possibility of being able to arrive at the result guided not only by the professionalism of those who really know how to do this job (the analyst), but also and above all by the ability to align all the departments and their decision-making figures who, only by supporting each other, could increasingly stimulate the culture of data and its strength so that we can speak of a data-driven company.
The best business decisions come from reading data well, and this represents the first important building block in developing a truly effective data-driven strategy that serves as surplus value for the entire organization.
Data Driven Company: developing a data intelligence process.
But there’s more! A company that aims to use strategies that put data at the center necessarily needs to implement a process of Data Intelligence. This is because in addition to assessing the accuracy of the data, it generates maximum value and a solid foundation for future initiatives involving digital. But what is Data Intelligence? A process that turns data into information, information into know-how, and know-how into value. Just like Business Intelligence, Data Intelligence is a vital part of any organization’s efforts to improve its services and strategies. The two terms, however, are not equivalent; let’s get some clarity. Business Intelligence is a technology-based process that provides easy access to business data. Data plays a key role in every business model, leading to exciting new ways to generate revenue. But data only makes sense when it is analyzed and used to make business decisions. Thus, BI is about harnessing their power to gain valuable information about the business. Simply put, Business Intelligence has the ability to transform individual “raw” data into something that has deep meaning and that the business is then able to leverage to its advantage.
In conclusion we tell you …
…The halo of mystery let’s leave it to the mystics; data and the processing of them feed on well-established evidence. And this is where the encounter between what is measurable and what can never be is played out. In between there is always man, who thanks to his hand is capable of creating great things, adjusting his aim when appropriate. Because, let us remember, data does not exist without man’s ability to know how to process it. Here the difference between scientist and visionary stands out most: one exploits data that everyone sees, the other exploits data invisible to many. What about the organization? We speak of adata-driven organization when it is able to “torture” the data long enough, almost to subject them to the pillory, leading them to confess … anything. Try it to believe it! Is the world of Analytics fascinating you and would you like to learn more? Keep traveling with us… Innovating is also measuring!
