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Posted 19th January 2022
A business that is data driven is an organisation that relies on accurate data and smart analytics to make the right decisions across the board. When you digitally transform your business and take control of the data at your disposal, you must ensure that you use the information in the right way and that the correct tools and platforms are integrated within your existing architecture to get the best out of your company at every turn.
There are a few reasons why your business should transform into a data-driven engine that relies on smart analytics to make big decisions, shaping the future of the company. We hear about the importance of data all the time in business, but without a clear approach and a well-defined data strategy and use of apps and platforms that use data well, your company will flounder.
When you use data in a smart way, it helps you to analyse it effectively and get down to the real detail when formulating plans and setting out goals for the short-term and the long-term. Business decisions are always best made when you have all the relevant information at your disposal, rather than just taking a punt based on your gut instinct. Sure, it might work at times, but the best companies are those that are led by the data and create realistic goals that are measurably attainable.
Whatever decision you are making, whether it is about a single task or project, or setting the budget for the entire organisation for the upcoming financial year, it is important to be focused and make unbiased decisions based on the data. Data-driven insights help you to make the decision that has the best chance of success. This rational process is the only way to make fully unbiased, fully informed decisions that are best for the company.
Data driven businesses are more likely to make a profit and much more likely to have a high customer retention rate. It is easy to see why, as using data to find out the pain points of the customer journey is the only way to improve your service. Wherever there is a bottle neck you can look at ways to tweak and test, improving the products and service over time, leading to increased customer satisfaction and in time, increased revenue, and profits. All based on data and accurate information.
Clear, up-to-the-minute data and information is the only true way to understand if your customers like what you are offering them. If your customers are satisfied with a product or service, your data will reflect this. Understanding whether a product or service is feasible will help you make strategic decisions moving forward and helps you to make changes where necessary. Accurate data helps to charge innovation and creativity when new products are being developed and can put your organisation ahead of your competitors.
Proven metrics are used to implement a system of management that is efficient and helps to increase the performance levels of your employees. With accurate and reliable tracking of performance metrics, you can use data to gain valuable insight into how your organisation functions, right down to the performance and productivity of individual employees. Over time, this sort of data is of great use to a company as it evolves, changing certain workplace practices, workflows, potential communication channels and improving the way in which staff are treated and expected to perform.
It can be difficult within organisations that rely on different apps and different platforms throughout the company. For management purposes and making the best decisions for every aspect of a business, the integration of Power Platform and data driven applications helps to drive a company forward.
Low-code/no-code toolboxes that come with Power Apps provide a powerful platform for a company to make a realistic digital transformation with ease, moving to a centralised, simple interface where all data from the company can be drawn into and analysed without the need for technical expertise or a complicated over-arching system that drags data from many different sources.
If you’re not using data to make decisions yet, what are you waiting for? There are different ways in which you can utilise data and use smart analytical tools to ensure that every decision that is made within your organisation, from small everyday tasks and projects to the long-term goals of the wider company, is done so with clarity and purpose.
Our full consultancy here at BCN gives you the perfect chance to analyse any weaknesses in your business. We understand what it takes to transform your business in a way that begins to use data in the best possible way, informing all departments, workflows, and processes to boost performance, efficiencies, and increase customer satisfaction and profits.
