How to Make Your Business Data-Driven

Learn how to overcome some common challenges to becoming more data-driven

“Data-driven” has become quite the buzzword in business circles. But what does it really mean to be data-driven? It’s more than just tracking your company’s web page views with Google Analytics or hiring someone with “data” in their job title.

Becoming data-driven requires a culture shift. It requires taking analytics beyond departments traditionally associated with number-crunching, such as accounting and marketing, and creating a company-wide commitment to using data to guide business decisions and strategy.

A data-driven company connects data to strategy by:

• Communicating strategic goals to all employees using company-wide key performance indicators (KPIs)
• Identifying clear metrics for analyzing performance on KPIs
• Regularly using analytics to gauge success and generate actionable insights
• Expecting everyone in the organization to understand and follow data best practices

Challenges Becoming Data Driven

There are a variety of challenges that can create a barrier to becoming fully data-driven. Some of the most common include:

Cost

In order to become data-driven, you have to have the right tools to collect and analyze information. Many businesses assume that this means they need to invest in expensive hardware and software or even hire dedicated IT staff. In reality, there are cloud-based tools available that provide cost-effective access to analytics without the need for new computers or new staff.

Time

If your business is scrambling to maintain the status quo, chances are employees don’t think they have time to make the transition to being data-driven. However, if you can make time for an initial investment, the insights you glean from analytics will likely repay this time deficit tenfold by making operations more efficient.

Culture

Making decisions based on what the data says, rather than on what conventional wisdom dictates, can be a culture shock in many business environments. This is why it is important to get employees at all levels of the company to buy in to the process. Using an analytics tool that generates easy-to-understand, easy-to-share reports and distributing those reports to all levels of the company can help.

Start Small–Anyone Can Do It

Becoming data-driven may seem like an insurmountable challenge at first. However, it certainly is doable. The best strategy may be to start small. Pick one aspect of the business that could benefit from analytics, and start there. Once you are able to show concrete examples of how using data to drive decisions can help your business, it will be easier to get buy-in for a more dramatic shift to becoming data-driven in every aspect.

MyFieldAudits’ cloud-based auditing and analytics tool is an excellent place to start if you are looking for an affordable, user-friendly way to experiment with data-driven decisions at your business. MyFieldAudits runs on just about any computer, tablet, or smartphone so you don’t have to invest in any new equipment. And because it already includes robust reporting functions, you don’t have to hire an IT genius to start using it. MyFieldAudits will generate engaging digital dashboard reports that make it easy to visualize data and generate actionable insights. To learn more, contact us at info@MyFieldAudits.com for a personalized demo.

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