Brands should ensure that their data informs their decisions and not the other way round.
Despite business consistently increasing their investments around data analytics, they are failing to cultivate a healthy data culture. Organisations need the right environment to utilise the data’s potential properly.
Providing teams with siloed data can lead to confusion in ranks and lead different teams coming to different conclusions. Managers should ensure that the same information is available to every one to break down silos. They should also build a consensus on what data to focus on to establish “a common source of truth to guide decisions and strategy.”
While drawing up data-led incentives, organisations should be careful to focus on the right ones. Using the wrong incentives can encourage unethical behaviour from the employees and hurt the business.
[12 minute read]