Companies who embrace a data-driven culture experience a four-fold improvement in revenue performance and better customer satisfaction, according to a new report published by Harvard Business Review.
What is a data-driven culture?
Forbes defines a data-driven culture as 'an operating environment that seeks to leverage data whenever and wherever possible to enhance business efficiency and effectiveness.'
At Coeo we've found that there are three basic steps companies can take to implement an effective data strategy:
- Address culture: Any changes within a business require collaboration, have clear benefits and have an immediate practical application. Data Champions within teams who promote new ways of working can be an effective way of ensuring changes cover the whole business and become a new work culture.
- Introduce systems: Pulling data from multiple systems into one helps to maximise the use of information. Many businesses also find it helpful to introduces processes to ensure that employees are consistent in logging and storing data.
- Augment external data: Third party data can bring additional insights into your business, but it is essential to set out how this will fit into existing work and the value it will generate.
The process of providing employees across a business with access to data can be made easier by combining Azure SQL Data Warehouse with Power BI.
Analytics in Azure
Azure Analytics and Power BI deliver a 250% ROI while increasing satisfaction by 60%, according to a new Forrester Total Economic Impact (TEI) report.
Analytics in Azure was already a leader by a large margin on price, performance and data security, as demonstrated earlier in 2019 by a series of industry benchmarks. The recent HBR Survey and Forrester TEI reports (more details here) further drive home the business benefits of building analytics solutions with Microsoft Azure.
Coeo has continued to partner closely with Microsoft to provide our customers with the best solutions to suit their data strategy. We have been awarded Gold Competencies in Application Development, Cloud Platform, Data Analytics, Data Platform and Datacenter.
Improving your data culture
You can take your first steps towards creating a more effective data strategy by implementing better data governance and analytics tooling with our Power BI Jumpstart. Please email firstname.lastname@example.org for more information.