The quantitative data analysis and qualitative fuels the decision-making engine of data-driven companies, that more and more come from more multiple sectors. Business growth associated with the possibilities that arise from data is a reality whose effects are rapidly spreading, getting new Institutions are encouraged to put intuition aside to focus on factual information.
Photo credits: tone photography
Y, In this transition, technology plays a key role. On one side, makes it possible to extract all the value of the data through the collection, information processing and analysis; for another, in its evolution, guarantees better performance, faster, more precision and lower costs so that companies have no excuse when rethinking the approach of their processes and orienting them towards a business model driven by data. Despite this, adoption is not homogeneous.
How quantitative data analysis is transforming institutions from the inside out
The quantitative data analysis is part of the day-to-day life of many professionals at the executive level. They no longer depend on receiving reports from different areas, otherwise what are they who, in self-service mode, consume data to gain agility. According to a magazine report Harvard Business Review:
- The 80% of the executives surveyed consider themselves dependent on data in their functions.
- Around the 75% says their areas depend on data to make decisions.
- Three-quarters predict their institutions' reliance on internal data will increase in two years.
Other to study from the same source reveals that Data-driven decision making in EE production environments. UU. nearly tripled in a five-year period, of the 11% al 30% in the plants participating in the research.. Despite this, adoption was uneven. Clearly, it can be distinguished that the integration of quantitative data analysis techniques in decision-making processes was greater in the environments:
- a) Of greater technological maturity, those who had achieved higher levels of information technology.
- b) With better trained professionals. The best-trained workers demand a transparent way of working, objective and precise, what is achieved when you have the data backup.
- c) Mayor. Probably due to greater availability of resources, reason that, Today, would no longer be valid since the tools of quantitative data analysis They can already be bought or hired for a very affordable price.
- d) With a more extensive vision. The possibilities of data are for those who know how to take advantage of them. And if, can have the best technology, the most advanced solutions and an IT team full of data scientists, but if it is not combined with business knowledge and you cannot ask the right questions, the quantitative data analysis it will not give the expected fruits.
Becoming a data-driven company is about more than just taking care of its collection and analysis on an occasional basis... To be truly data-driven, institutions must move towards decision-making through the analysis of relevant data and let the conclusions that are drawn from the study of the information guide the business in its advance.
Making data a priority is just as important as promoting a data culture, make information available at all levels and know how to choose the tools that allow users, at all levels, be self-sufficient and independent when meeting their knowledge needs associated with quantitative data analysis and qualitative.
