Data Really Powers Everything That We Do
Raza Sheikh
Author
Feb 8, 2021
Data Really Powers Everything That We Do
LinkedIn's CEO, Jeff Weiner, once said that “Data really powers everything that we do.”
We couldn't create Facebook without data, Google wouldn't exist, and government surveillance would be a lot more invasive.
Whether we’re creating visualizations for marketing, making automated suggestions for content, analyzing user behavior, or predicting trends in email engagement—data is at the heart of all of it.
It’s no secret that data is a valuable asset for organizations. Businesses today are collecting more data than ever before, thanks to advancements in technologies like cloud computing, social media, and mobile devices. The growth of big data creates an opportunity not just to collect it, but also to use it to drive organizational decision-making by developing three core capabilities: data proficiency, analytics agility, and community.
Data proficiency means understanding the quality, cleanliness, and quantity of your data. As an organization moves toward becoming data-driven, they need to know what questions to ask to move forward. Analytics agility means forming a strategy with data and analytics in mind. Experimentation and prototype-based testing are key as you seek to identify opportunities. Community means encouraging the open and free flow of information and collaboration -- both within your enterprise and with partners and customers.
Data is power. And it gets better and better when you can make smarter decisions. In the past, we saw that data was used to make a decision based on what’s being calculated and thinking if it’s worth a try. Today data is transforming almost every industry such as e-commerce, farming, transportation, etc. We have more data than ever before but what we do with it has evolved.
Every major decision that’s made in our company, marketing strategies, product updates, etc. — they’re all based on data. We could make gut decisions and those could work out. But why would you want to make a gut decision when you can leverage data?
Data really powers everything that we do. How you choose to react to this data will ultimately impact your work as well as your career. Whether you are a digital marketer planning a viral campaign, or a financial advisor preparing for quarterly margin analysis, or an entrepreneur setting out to grow his venture, the data you gather and use has the potential to positively or negatively shape your work and future. In fact, if you've decided on entering a field that heavily relies on data for guidance, then harnessing data effectively through analytics is one of the key aspects of your job.
Analytics-driven firms know that data is useless unless they can take action on it. They’re able to quickly identify and exploit insights from data using machine learning and artificial intelligence, which in turn gives them the ability to continually adapt and evolve business strategies. Community advances shared knowledge by connecting teams across departments and tweaking existing processes to optimize performance. Analytics agility is the ability of companies to build and deploy lightning-fast models that predict what will happen in fast-changing markets, so they can make critical business decisions.
Data-driven decision-making sounds like an intimidating phrase, but it’s really not. It makes sense to base decision-making on data. When we have no data, gut decisions are the best we can do, but when we have information to work with, why not utilize it?
Data-driven decision-making – the ability to make smart decisions and act on that data in real-time with confidence – is the key to running a successful business in today’s fast-paced world. If you want your business to grow, you need to better your decision-making capabilities. These days, creativity and innovation are highly sought after, but without data to back it up, the results will be tenuous at best.
In today’s fast-paced business environment, where speed and agility are critical to success, it is imperative that you and your company make faster decisions. Data-driven decision-making increases your agility by reducing uncertainty and speeding up time to action.
In the constant cycle of business, it can be hard to know whether an idea will be a winner or not. Data-driven decision-making is essential in any company’s success. You need to have the right data to back up what you are doing.
The business has never been more data-driven than it is now. With so many ways to collect, analyze and interpret data, leaders across all industries are making smarter decisions that will help fuel their company's growth.
To compete and win in today’s highly competitive market, companies are collecting an unprecedented amount of data. Thanks to modern business intelligence, organizations are inching closer and closer to understanding the value of data-driven decision-making across all departments and roles.
Business intelligence has moved beyond the typical realm of IT departments. These days, business intelligence is an essential tool for connecting the dots and making data-driven decisions across the entire organization, from senior executives to supply chain managers. It’s no longer just a departmental task; it has become a companywide endeavor that virtually every department must be a part of.
Business intelligence is more than just a fancy term for data-driven decision-making. For many firms, it's a core business function that provides insight into critical metrics, departments, and processes.
Business intelligence is more than just analyzing numbers and delivering data, it requires the ability to present those insights with a human touch -- typically using dashboards, reports, and analytic dashboards. It’s even MORE than that -- business intelligence requires the ability to take those lessons learned from data and create a culture of organizational change that propels companies forward in terms of performance optimization and revenue growth.
Data powers new business models and has ushered in an era of cheap and easy access to tools that can format, manipulate, analyze, and model almost any kind of data set conceivable.
Data is the foundation of all results. It helps us make decisions. It improves the quality of our work and our lives. Before we can start to use any data, we need to make sure it’s ready for use. AI Surge's Data Engineering capabilities prepare your data for you with just a few clicks.
Data is good. Data that moves faster is even better. And data visualizations don’t just generate pretty pictures and drive more engagement—they can help us make better decisions based on user behavior, trends, and appetites. They give context to meaning, connecting dots between what we know and what we want to know. AI Remedies Data Visualization and beautiful dashboards generate custom reports to suit your business needs.
Big data. Data science. Data-driven decision-making. Call it what you like, but the fact is data really powers everything that we do in an organization. It powers how we make decisions and how we execute those decisions as a business and even as consumers. And to have access to more data can mean big opportunities for your business and your career.