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How to become an agile, data-driven company

Jeremy Sim, Director, Industry Solutions, Qlik, APAC | Nov. 8, 2016
Organisations should consider efficiency and productivity.

This vendor-written piece has been edited by Executive Networks Media to eliminate product promotion, but readers should note it will likely favour the submitter's approach.

Over the past few years, the time organisations have at their disposal to make crucial decisions has been drastically reduced. According to a study by IDC, 42 percent of managers have just 24 hours to make an important business decision. Yet, in many cases, they don't have access to data to make a truly informed decision. This problem is a common one and, for a lot of organisations, choices must be made quickly in order to respond to a pressing issue.

Organisations simply need to become more efficient and productive. According to the Asia Data Culture Study 2016, 88 percent of polled business leaders in Asia agree that an agile business must be data-driven as this increases the ability to make real-time decisions. While there's a plethora of ways for them to do so, the ideal solution is gaining a complete overview of what's currently happening across the business.  

This means bringing all intelligence into one location and making it available for everyone to access and analyse. After all, it's only when you allow your staff to see the information for themselves that they can uncover new trends and relationships that facilitate decision-making - not only at the top, but at all levels.

Fortunately, there are visual analytics technologies available that anyone can use to gain a better understanding - on a global scale - of their organisation. Taking full advantage of visual analytics also helps anyone in any business tap into huge volumes of data to gain insight into what's happening across their company. With that visibility, they can make educated decisions on the best ways to tackle tasks and forge ahead.

An IDC report highlights that Asia Pacific organisations are maturing their capabilities to understand and leverage Big Data and Analytics technologies by 34% as compared to 7% in 2014. It seems like the mindset change is already underway, but how can an organisation become truly data-driven? Here are some useful suggestions:

1. Focus on people

Data is an important asset in decision-making and a key source for knowledge within an organisation, but it's the people within that company who have the power to assess whether a decision is right or not. Therefore, companies should equip their employees with easy-to-use analytics to get the most knowledge from their data.


2. Agile decisions

64% percent of business managers have seen the time allowed for decision-making shrink in the last 12 months, with 42 percent citing that decisions need to be made in less 24hrs. Data-driven enterprises differ from the rest due to their agility in the decision-making process. Being quick with their decisions allows them to better respond to dynamic business environments and competitive markets.

3. Make use of all data

 

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