If until recently, a large part of business decisions were made based on guesswork or opinions, now, with the spread of technological resources in all niches, it has become impossible to ignore the importance of data, as well as its collection, analysis, and correct storage to ensure more assertiveness and predictability of future scenarios.
Given this context, Data Driven emerges, which involves management guided by data, capable of implementing actions, monitoring processes, measuring team performance, and estimating results through concrete and analyzed information.
Want to discover what the concept is and what the main steps are to ensure that your company is data-driven?
Then you are in the right place! Continue reading and check out the article that we, from CodeBlog, have prepared for you.

After all, what is Data Driven?

Data Driven, in Portuguese, means “baseado em dados” (based on data).
In practice, a Data Driven company is one that continuously uses the potential of collecting and interpreting tangible data to increase its competitiveness and ensure more strategic decision-making.

In this way, all sectors and collaborators have access to a large volume of relevant data, which can be used to optimize processes, to develop strategic planning, to predict positive and negative scenarios, and to understand, more deeply, market trends in general.

Data Driven: why is it important?

The great relevance of data in business processes is not exactly a novelty. This is because they allow the analysis of countless growth opportunities, help organizations better understand their customers, and customize products and services to meet their demands and needs.
But, perhaps, the key word of data-driven is precisely the security it provides to businesses. After all, it is clear that when a company is data-driven, its decisions are made based on secure forecasts or proof - which are much more reliable than perceptions or assumptions.
With technological advances, the era of guesswork has definitely come to an end. And the only way to avoid shots in the dark is to rely on the reliability of data.
However, in the business scenario, there is still a long way to go. A recent survey, conducted by Gartner (a consulting company), revealed the - alarming - state of maturity of companies regarding the use of data.
According to the study, only 3% of collected data is effectively used for some action, study, or project. Professionals lose, on average, 37% of their working time looking for the data they need. And, at the same time, data management takes, on average, 23% of the teams' time.

How to collect data efficiently?

There are several sources that can be used to ensure efficiency in data-driven management, from the most complex ones, such as AI, Machine Learning, and Big Data, to the most basic and easy to find, such as sales data, reports, and indicators generated by the business itself. In addition, it is important to mention that digital consumers themselves also leave tracks online.
Therefore, knowing how to collect and use (in a legal and transparent way) information from registrations on websites and social networks is also an excellent way to obtain information related to audience behavior, such as main access regions, peak hours, age and sex of users, and much more.
Another way to understand the behavior of potential consumers, identify brand positioning, and access other decisive data for a business is to implement market research - a solution that, although not as innovative as the others mentioned, can be quite effective.

Data Driven: how to make your company data-driven?

As much as the processes of collecting, analyzing, and storing data, as well as the volume of information needed, vary according to each business, the good news is that there are some general tips that can help everyone who wants to be data-driven.
In the following, we list the main ones. Continue reading and check them out.

1. Define your goals and monitor constantly.

It is important to keep in mind that data is the path, not the final destination.
Therefore, the first step to implementing Data Driven in practice is to establish clear goals for this management, planning how each strategy can contribute to the optimization of processes and the business's competitiveness.
In this sense, it is also very important that the Data Driven mindset is present, not only in the company's strategic planning, but also in its organizational culture.

2. Encourage the daily use of data

While some sectors like marketing, IT, and business intelligence are more prone and adaptable to the use of data, other areas, such as commercial, sales, and administration, need to have the opportunity and knowledge to understand how to integrate the potential of data to simplify their workflows.
To indeed be a Data Driven company, it is necessary for all departments to have their database sources, own applications, and metrics, monitored by leaderships and based on concrete information.
Considering that any type of technology is operated primarily by people, it is fundamental that employees are previously trained to master the use of the tools and know all the features and possibilities they offer.
Therefore, the most recommended is to establish a training and adaptation period, so that the entire team can get used to the technology, reducing the feeling of resistance.

3. Take advantage of data to define the next steps

It is important that the decision-makers of a business, as well as managers and leaders, have access to the best possible data. For this, before they are actually made, all strategic decisions must be monitored, tracked, and re-evaluated, such as, for example, in a feedback cycle.
Thus, it becomes easier to ensure that decisions are informed and well-founded, simplify the identification of the necessary data, and understand how they can be used to minimize risks and optimize results.

4. Invest in data collection

As mentioned earlier, there are multiple possibilities for data generation, from the simplest and most accessible, such as satisfaction surveys and sales analysis, to the most complex, such as access monitoring and predictive analysis.
To make more assertive decisions, try to study all available data sources deeply and understand which ones are most relevant to the needs of your business.

5. Accept that this is an endless cycle

Last but not least, to succeed as a Data Driven company you need to understand the core of the context. This is definitely not a task with a beginning, middle, and end. The analyses are cyclical, multiple, and endless, and the volume of work will always be greater than the capacity of any team, regardless of the level of competence or number of employees.
Being Data Driven is generating data all the time. In practice, this means that the cycle of collecting, analyzing, storing, and acting on this information is eternal.
In addition to accepting this reality, there must be a certain rigor regarding prioritization.
If your business has a continuous improvement mindset, is constantly looking for new opportunities, and wishes to optimize existing processes with technological support, you can celebrate. It's already half the battle to became a true Data Driven!

#Extra Tip: Why you should invest in Cloud Computing

Cloud computing is a modern and secure solution that enables all company data and information to be maintained and managed on external servers, stored in backups, and made available through a network.

This way, by adopting cloud computing, an organization allows its data to be archived and shared over the internet.
In addition, the technology also features privacy settings that integrate confidential archiving and protect all sensitive user data.
Therefore, investing in cloud computing is a safe way to store data and make it available in a personalized way, thus preventing the loss or misplacement of important files and documents.

If you want to understand more deeply the transformation generated by cloud computing and find ways to apply it in your company to uncomplicate processes and make them safer, get in touch with the team of specialists at CodeBit and discover all the personalized solutions available for you.

We hope that this article has helped you, dear reader, to understand and avoid the most common data management mistakes committed by companies.

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