Seems like the world of business was simpler in the past.
There weren’t many competitors, people used to know one or two other brands of every product or service. The grass was greener, the sun used to shine upon everyone with a good idea, some penny in their pockets and that so called entrepreneurial instinct.
Everything seemed to happen more organically. Sales, marketing, management, everything was somewhat more intuitive. This market seems easier to reach, even charmingly simple, right? But of course it was surely not. The fact is that present day market appears to be wilder and way more chaotic, but it has potential to be more intelligible though. We’re all living in a digital globalized “yellow submarine” world of 7.7 billion people and that’s a lot of data to manage, yet don’t worry! We can do it.
Thousands of new products and services popping up in our faces every night and day. Businesses and consumers worldwide have been swallowed by data, or has data swallowed us? The survival of the fittest in the business world makes more sense than ever before. The struggle is real.
So, here are 5 tips that the Indoor Informatics consider important for more deliberate choices based on data that can be critical for guiding your “submarine across the seven seas”.
First of all: It gonna get much harder to make any data driven decisions if people don't trust data. No technology will ever become useful if people's mindset remains the same. Thus, nurturing a data-centric mindset into your staff is essential. Low reliability and transparency in data lead to redundant work and communication barriers between analysts and executive decisions.
Revolutions don't happen overnight. Pick one department or objective in your business to start enhancing first. Experimentation is important. The adoption of new behaviors and methods surely takes time, but it's feasible if you do it gradually. Where and how to start can be the most challenging aspect of making the shift, yet make it. What area of your business might be the priority for data driven decisions?
Data will be useful and only if it is well aligned with your business goals. If it neither add value to your business metrics nor improve tracking performance, then what is the point?
Data must be turned into actionable information to improve processes. You shouldn't use data "just because".
Visualizing data and information makes it easier to understand and to cope with new challenges that your business is facing or might face. This way data interpretation becomes more practical, user-friendly and new actionable insights might come up when the report is more than just a bunch of numbers that require one's a master or doctor degree in statistics in order to understand the spreadsheet.
Using the most suitable tool for your business goals is as important as cultivating a data-centric mindset in your business. It may vary according to your business's goals, of course. For instance, having a physical office space or huge facilities could be better managed and planned by using space management devices that will track the usage of space and offer better solution that saves you cost and impacts the budge in a sustainable way.
We hope this post is useful for you. Please, give us your feedback about the topic.
We wish you a Merry Christmas and a Happy New Year full of Success, Health, Wealth and Peace! 😉🎅🎄