Today's business leaders have an incredible opportunity not available to those of fifty years ago.
Not only is there a wealth of information available to them that hasn't previously existed, but it's becoming more and more accessible thanks to the ongoing innovations in the industry.
Instead of being an organisation that has to adapt "come what may", we all have the potential to forecast market changes and make decisions accordingly (Source: Investopedia).
Isn’t that incredible?
Are you using data effectively in your organisation?
There's a reality we have to face.
As it stands, the majority of companies aren't utilising data as much as they could be.
Although previous recruitment trends have shown a high demand for Data Analysts and Scientists, there's more we could be doing (Source: Career Foundry).
Ultimately, data isn't only useful to the specialist employees and leaders/executives of an organisation (alternatively referred to as the senior decision-makers).
In fact, employees of all levels have the potential to tap into an almost unlimited pool of data resources in order to start completing their job more effectively.
Where does data come from within a company?
Every day, informative data is generated by the software your team is using.
From HR platforms that measure performance and wellbeing, to the CRM system that reflects on customer engagement, the use of these statistics could take your company to the next level.
That’s not all.
As well as having access to an internal pool of data, more organisations are actively signing up to providers like Outra, that offers non-PII, GDPR-compliant, insights into its market (Source: Business News Daily).
Are you one of them?
Why should you build A data-driven company culture?
Put simply, embedding the use of data into every employee's decision-making capabilities could reduce both wastage and risk in your organisation.
So, when your team not only understands the data available to them but actively uses it to their advantage, you can gain a significant competitive advantage.
Well, in markets that continue to evolve, your team can use insights to be more flexible - adjusting to customer demands and predicting competitor movements.
Therefore, encouraging staff members to use the information available to them by building a data-driven company culture could ensure accurate and informed decisions are made.
Say goodbye to relying on a “gut feeling”.
How to build a data-driven culture
At the end of the day, implementing data into the standard operations of your organisation isn't easy.
While statistical analysis might come as an instinctive skill to some, others will need time, guidance, and support.
Educate on the importance of data
As should be a standard practice when introducing anything new to your employees, provide as much information as possible as to why data is useful to their ability to do their job.
Most people don’t like change, but being informed of the benefits of doing something in a different way than we’re used to will help transform mindsets and reduce resistance.
Rewrite work expectations
Start to revisit roles and responsibilities in your organisation to implement data in every aspect of a job description.
This will be the foundation of your new company culture, encouraging teams to take responsibility for their learning and development. It will motivate them to seize opportunities that come their way, knowing that the face of their job is changing.
Provide employee training
Then, once your team has had the time to process the new approach you want them to take on a day-to-day basis, you can start to offer training to help them understand the data available to them.
Even if you have an in-house Data Scientist or Analyst, equipping your team with the ability to make informed decisions by themselves will encourage autonomy and promote career satisfaction.
Create accessible data streams
Once you have a system in place where employees are starting to regularly use data to their advantage, you can start to slowly increase the number of insights they have access to.
For example, rather than just providing your marketing team with data generated by their CRM system, you could onboard a social media analytics tool to offer a comprehensive view of your content platforms.
Recruit for digital and data skills
Finally, to embed a data-driven culture permanently into your workforce, you want to consider your goals when recruiting.
Rather than selecting candidates with lots of industry experience but no digital skills, you might decide that proficiency with data analytics is your new priority.
Build your team according to the organisation you want to be in the future, and you’ll see a huge difference in your overall performance in the market.
Working with Forward Role
For help expanding your horizons and driving change in your industry through intelligent recruitment, contact us.
At Forward Role, you’ll find genuine marketing, digital and tech experts who care passionately about delivering for our clients and candidates.
If you're a client, you can expect exceptional delivery and communication as a matter of course.
If you're a candidate, we'll treat you the way we'd like to be treated when making an important life decision like moving jobs.