Nigeria has produced and sold oil for many decades now but look how far it has brought us. Worse still, many countries are adopting solar as an alternative and giving serious consideration to the climate consequences of processing crude oil. Suffice to say; our precious ‘oil’ is not as bankable as it used to be.
You may wonder, what then is? Well, the answer is simple: DATA. This is so because, everyone is beginning to appreciate the use, importance, and flexibility of Data Applied Statistics.
Therefore, the need for scale-up in organisations, within Teams and Employees by acquiring knowledge in the most sought-after skill of the decade – Data Science.
The Benefit is that it will help the organisation in Data Driven Decision Making (DDDM) where KPI’s, analysed patterns and facts from insights are utilised to develop strategies and activities that benefits the business in a several areas. Every organisation’s strength in this 21st Century lies in their wealth of Data and what they do with it. Top organisations have gone as far as building Data Warehouses for easy reporting and aid of Big Data Analytics. The Data Warehousing also helps to standardise data across the organisation, and helps the organisation move towards fact-based decisions, reduces cost and increases revenue.
Who Needs Data in An Organisation?
The right answer is EVERYONE!!! Ranging from Customer Experience/Care, to Operations, to Marketing/Sales/Retail, to Finance, to Human Capital Management, to the Executive Office.
In our Customer Experience Centre, our data informs us on how many closed requests we have, how many have been treated, escalated requests, voice of customer, agents performance, customer satisfaction rating, income generation, customer interactions count, trends on increase/decrease of customer interactions, customer behavioural patterns etc.
10 TIPS FOR Taking Data-Driven Decision Making
- Guard against your biases
- Define Objectives
- Start Gathering Data
- Look for your unresolved questions
- Find the data needed to solve these questions
- Analyze the data and understand
- Don’t be afraid to revisit and re-evaluate
- Present the data in a meaningful way
- Set measurable goals for decision making
- Continue to evolve your data driven decision
No better time than now – Embrace Data Today, Data is the New Oil.
