Are you keen to help your organizations or business become an insight driven organization? Forrester data indicates organizations with advanced insights-driven are 1.7 times more likely to grow revenue and 1.7 times more likely to reduce costs.
Every organization or business must define a purpose for why data is being collected or created. Organizational performance metrics will be set so that the data will bring value to the organization or business and help inform better decisions. Action will be driven by embedding data analytics capabilities to generate insights from the data.
The more data you process, the more you improve your products and services, the better you serve your customers and markets. The resulting data, in turn, provide actionable insight, which will improve your products and services and to help shape demand and new growth models. As a result, your organization will become an insight driven organization.
Let us identify key characteristics between data driven and insight driven organizations.
| Data Driven Key Characteristics | Insight Driven Key Characteristics |
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A data-driven organization emphasizes the collection, and utilization of data in decision-making processes. The focus is on using data to inform and support decision-making, without necessarily delving deep into the underlying insights or implications.
An insight-driven organization goes beyond data driven where the analysis is to uncover deep insights and contextual understanding. It leverages these insights to drive strategic decision-making within the organization.
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