Stay Ahead of Your Competition with Data-Driven Teams

The ability to take data – to be able to understand it, to process it, to extract value from it, to visualize it, to communicate it – is going to be a hugely important skill in the next decades.” - Hal Varian, Chief Economist, Google.

Data. It’s all around us, and forms the basis for many organisation’s revenues now in the digital age. Given its absolutely essential nature, utilising it efficiently is a necessary steppingstone to progressive organizational growth. Although this would seem like a logical conclusion, many companies still do not fully acknowledge or embrace this. Utilizing data in a correct manner can be beneficial in innovation, but this utilisation must be across all positions. Every team member should have an understanding of how to utilise the data they work with in a smart, meaningful way. Doing so creates a better understanding of not just your customer needs, but potentially those on a global level. Alongside this, daily work operations, and strategies can also be refined. Many firms still do not understand the immediate benefits of a data-driven culture in decision making, leading them to a more laboured, strenuous growth and slower progress of their company. Rival firms will capitalize on what can be seen as a weakness, so it’s important to not be left behind in this race.

How would a Data-Driven team operate?

Ultimately, a data-driven team places their foundation on collected data to develop, create, pinpoint and achieve their business goals. A company that seeks innovation and progress will use carefully harvested data insights to evaluate many factors, such as daily employee operations and functions, to sales trends, or even opposing firms products and services. When companies make use of first-hand data information, they can take hold and control present operations effectively. The benefits of doing so can be substantial for your firm. Here, we will discuss how to adopt a data-driven culture in teams and spread new ways of working and thinking in your organization.

1. Introduce a data-driven mentality:

To effectively adopt a data-driven culture among employees, it is important to first lay the foundation. You can place this foundation by communicating to the team members what is needed and why certain data is important. Introduce the data habit and mentality by encouraging employees to collect metrics and specifications of new and existing products. To encourage team members to adopt data-driven mindset also rewards said employees that take up the data-driven culture. After all, their growth and performance will directly relate to their progression. As you lay the foundation and continue to introduce the habit and mindset, employees will become more openminded to the culture.

2. Manage data as a strategic asset and not a restricted property:

The concept of a data-driven culture is not just about the ability of enterprises to make high level decisions based on relevant data. It′s about encouraging team members across the entire organization to embrace data as a tool that assists them to make their daily decisions and best choices. It′s time to leave the misconceived concept of trust in data silos. The world is running fast and for keeping the rhythm with it, it is important to acknowledge that is not sufficient in this day and age to simply have a few experts who handle the understanding and presentation of data, with the rest of the organization in the position of passive receivers from those trained few. The move for your company to new heights can come when you convert your data keepers into mentors, who increase the value of the company through nurturing and ultimately flourishing the team(s) that will master and benefit in each level of the proficiency of their expertise with understanding data. This will allow new perspectives, growth of critical thinking and will enhance the speed and efficiency of the organization through its ability to operate much more in an instant, and both avoid and prevent obsolescence of information.

3. Make sure to pick a creative and analytic team:

If your team members have a curious and analytic mind, it would be easier to adopt this new kind of culture. Select a team that can grasp features and concepts easier. Ask team members about their experience and knowledge in this area, notice if they have at any time made use of data insights or taken advantage of data information before. Your team does not need to have the best, most analytical minds. It just needs talented individuals ready to learn and who are passionate about finding new functional ways to reach your companies objectives. With a team like this, you can in no time build a more rich, data-driven culture. For a team centered on this approach, you should implement focused workshops or training to aid them on using data insights to solve specific company challenges. When your team is put to work and see how data can be beneficial in solving problems, they become aware of the benefits of data. There are a lot of ways to train your team to use data; you can set up courses on data and training workshops. The more problems your team solve with collected data, the more motivated they become to imbibe a data-driven culture. You will also benefit if you pay attention growth of your data-driven culture already during preparation of your assessment centers and interviews.

4. Implement data infrastructure and tools:

Data infrastructure and tools may be time-consuming and hectic if not set up the right way. It is best to consult with your teams on the right kind of tools they need to access the required specific data they require. Implementing the right infrastructure and tools is a crucial step to adopting this culture. After all, the best workers in the world can’t operate without the right tools – it is no different in this area!

5. Make it exciting

When you achieve your goals based on this new approach, make it known! Celebrate the important milestones. Show you appreciation, gratefulness, and utilise the opportunity to emphasize what steps worked well. Don’t forget, if this is a new process for your employees, they may be hesitant at first – it may be completely new to them. So you shouldn’t be afraid to point out important patterns that are beneficial to repeat or extend, and be on hand to provide support to your team for the new challenges!

To sum it up, your company's progressive growth and success are immensely dependent on new ways of working and thinking within your firm. Be open new opportunities and push your company in 2022 to newer heights!