What is data-driven?
What does it mean?
What have successful organizations such as bol.com, Coolblue & Google in common? No decisions are made here based on gut feeling or because the wind blows to the southeast. These organizations base their choices and objectives on data, and therefore work data-driven. But what is data-driven working and what does that entail? DATA KINGDOM explains.
If you are not doing business intelligence in your organization, you are actually doing the wrong thing
When data is used for knowledge within the organization, this is called business intelligence. ‘Business intelligence (BI) stands for collecting data within your own trading activity. It can be described as the process of converting data into information, which should then lead to knowledge and prompt appropriate action. (Wikipedia). In order to work data-driven or information-driven, it is important that there is easy and quick insight into the data. This can be done with the help of business intelligence solutions, such as Power BI or Tableau.
One of the business intelligence solutions that is widely used today is data visualization through dashboarding. A dashboard is an information management tool that displays the data in a visualization or digestible summary.
What makes data-driven working different?
Don’t all organizations rely on figures to a greater extent? That’s right, but then we usually talk about information-driven work. Information is data that has been processed so that a meaning can be given to it. Information-driven working can be seen as working on the basis of various KPIs (key performance indicators) that are monitored and can be controlled. Information-driven working is part of data-driven working. However, data-driven working is designed in such a way that data serves as the starting point for bringing about changes. The raw facts shape the direction in which the organization is heading, while in information-driven work the expectations and/or objectives of the organization determine how the data is used. An information-driven organization therefore determines its objectives before analyzing the data, while a data-driven organization derives its objectives from the data.
Work clearly and data-driven; but how?
At DATA KINGDOM we believe it is important that you have insight into your data, the way you like it, in a clear dashboard. Whether you work completely data-driven or information-driven, the data remains the basis for your decisions. We create dashboards in which the data that your organization has available is presented in such a way that it can easily and quickly serve as a basis for your choices.
Curious about how we can help your organization work more data-driven? Contact us.
Would you like to know the benefits of a data-driven organization? DATA KINGDOM breaks down the figures.