How Come Businesses Do Not Use Data Even If They Have Plenty of It?
Wed, April 21, 2021

How Come Businesses Do Not Use Data Even If They Have Plenty of It?

Data needs to be easily understood by employees / Photo Credit: ESB Professional (via Shutterstock)

 

Founder and CEO of Askdata Simone Di Somma said when companies have better access to data, they can make better decisions, as documented by the editorial team of big data news portal InsideBigData. Companies from various sectors gather historical and business data to forecast the unknown future. However, it’s not about the quantity and quality of data that helps a firm move forward in the business world. It’s also about access to data. When organizations democratize the access of data, then it helps enhance the quality of decisions made at the lower rungs of the ladder. Those decisions become more data-informed. But that’s easier said than done. 

An organization’s C-suite makes the “big-picture decisions” that help guide the firm’s development. So, the employees using data to inform a chosen course of action have high rankings in the company “or are wonky data specialists.” But data is still useful to employees regardless of their rank or tenure, making it more likely that data will be a driving force for every decision. Over time, this leads to better business outcomes. Hence, companies should change their culture around access to data, allowing everyone in the firm to interact with data. This makes every employee think like a strategist. 

But managers need to also remember that there are people in the company who think in “less than granular terms.” These individuals do not necessarily think about the consequences of their actions that may or may have no impact on the organization. Therefore, it is important for data to be easily understood or used by people. Transforming data into something understandable and useable can be done by “preserving connection between departments and avoiding disconnects.”

Overall, big data is a shared language. Not everyone is equipped with years of experience in data science or in business leadership. In fact, even people who work in menial jobs can benefit from data. Businesses can collect volumes of data in one day and they could leverage it to bring it out of obscurity and allow their employees to have better access to it.