How Data Analytics Drives Business Decisions
Warning: Reading this article could lead you toward greater profits and smoother operation of your business!
Learning the proper applications for business data can significantly increase the potential for your business’ success. Additionally, helping all your employees to gain data analysis skillsets can create a smoother operating day to day resulting in yet another profit side data point. Data platforms give decisionmakers the ability to grasp a deep understanding of market trends, thus enhancing the percentage of well-informed and successful business decisions. Therefore, it makes all the since in the world to have more and more stakeholders gifted in the understanding and use of data as it applies to your business.
Companies that utilize Data Analytics to drive business decisions tend to be leaders in their perspective markets. Companies such as Google, Southwest Airlines and Walmart are focused on data farming and utilization throughout each department of their vast empires. So, unless you are averse to success, you too can take advantage of the data analytic skillsets utilized by such great companies through training available from The Computer Workshop. You do not need to be an IT wizard to participate in the analyzing of data nor to share with decision-makers the story the data is telling. With the advances in system design and applications, everyone in the company can participate in crucial business growth. In our hyper-connected world, we have more and more access to critical data than ever before. Having more available players with the skillsets required to utilize what is given makes a great business decision, research the data.
By leveraging the wealth of digital insights available at your fingertips and embracing the power of business intelligence, it is possible to make more informed decisions that will lead to growth, profit, and necessary operations evolution which will keep your operations up with the ever-morphing business world.
Data driven decision making is a process involving the collecting of data based on the measurable business goals adopted, analyzing trends and facts, and utilizing them to develop strategies and activities that benefit the business. This process was once an all-encompassing task assigned to a specific department or group which delayed the entire data decision making process. Such delays, often force decision makers to skip the data and make business decisions strictly from the gut; a situation that once cost IBM over a billion dollars.
Mined data comes in two distinct formats, quantitative and qualitative. The analyzation of each requires skillsets that can be added to any employee “toolkit” thereby allowing the business to draw from more invested personnel making the analysis more readily available. These skillsets are powerful tools that can be harnessed to enhance the day-to-day operations of every business.
The importance of data in decision lies in consistency and continued growth. It enables companies to create new business opportunities through better prediction of future trends, optimized operational efforts and actionable insights all of which lend themselves to more revenue generation.
In short, data analytics is a necessary part of business success. Businesses that prepare their staff to utilize and participate in this analysis are more readily adaptable to an ever-changing, even more data producing, and ultra-connected business world. Contacting The Computer Workshop to discuss how we can help you involve more and more of your employees to contribute to your success is a decision that is supported by the data; no guts to get in the way.