Word on the street is that data is important. And we know that you know it’s important–in fact, based on the State of Analytics 2016 report, 86% of industry professionals believe analytics is critical to their decision-making process.
But setting a couple of KPIs and checking your DAUs is still a far cry away from being truly “data-driven.” So many people and companies now use that term to describe their processes, it’s pretty much become meaningless.
Few businesses actually understand what it means to have a fully integrated culture of data. If you can’t quickly and easily get actionable insights from your data, unite your company around that insight, and make product or business decisions from it, describing yourself as “data-driven” would be a blatant misuse of the word. As it happens, 74% of businesses say they want to be data-driven, but only 29% say they are good at connecting analytics to action.
To know if you are truly a data-driven company, you should answer yes to these three critical questions:
- Is everyone aligned around a single core metric?
- Can everyone access the data they need?
- Can everyone get insights from their data?
Key word here? Everyone. Not just the analysts and data scientists, not just growth marketers, not just the C-Level execs. Everyone.