Data-driven Business Cultures Spark Innovation and Power Decision Making

By |2024-04-03T10:59:01-04:00November 8th, 2023|Cyber-Security, Data Compliance, Information Governance and Management|

Successful businesses leverage data to create competitive advantage, inform decisions, optimize processes, and build customer satisfaction. But data-driven business cultures do not happen by chance. Data-driven cultures require both data democratization and data literacy. Data democratization involves the process of making data available to everyone in the organization, regardless of technical skills or roles. Data literacy, on the other hand, refers to the ability of those employees to understand, communicate, and use data effectively. Potential Roadblocks to Building Data-driven Business Cultures Despite having more data available than ever before, uncovering data value can prove difficult. For instance, because of data

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Data Literacy Drives Corporate Strategy and Marketing Success

By |2020-12-16T04:17:57-05:00December 1st, 2020|Information Governance and Management|

Business leaders devote considerable resources to implementing data-driven marketing campaigns and corporate strategy. However, if decision makers lack sufficient data literacy, they can easily misinterpret or mis-apply the data. This too often results in costly mistakes and loss of revenue. Data literacy includes the ability to properly understand and evaluate data, then use and communicate that information effectively to drive business outcomes. This implies understanding data sources and context. It also involves the ability to read charts, draw appropriate conclusions and recognize red flags that indicate problems with the data. Understand the Importance of Data Literacy Consider some of the

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