In this day and age, decisions based on experience and intuition, which are critical in driving business choices, can no longer be made without the informed use of data. Therefore, we are increasingly hearing about a data-driven culture, in which data is collected, analyzed and translated into strategic business decisions.
A data-driven culture can help companies identify growth opportunities, anticipate trends and respond promptly to their customers’ needs.
What are the benefits of a data-driven culture for a company?
One of the most significant is the ability to make quick decisions based on accurate data, which increases agility and helps companies capitalize on opportunities in today’s digital consumer landscape.
In this context, data-driven solutions make it possible to connect the off-line world to the digital world, collecting, for example, data about production lines automatically and reliably, reducing errors, waste and delays.
The analysis of this information, through reports and statistics, enables informed and quick business choices that ensure a better response to sudden market changes.
However, market changes can be manifold and depend on the industry in which the company operates. The tools to address this scenario can certainly be business intelligence (BI) and artificial intelligence (AI) solutions, notoriously two different but complementary fields. BI refers to the use of technologies and tools to analyze data and provide insights for business decision making. AI, on the other hand, involves the use of algorithms and machine learning to enable software to perform tasks that usually require human intelligence.
What are the synergies?
The combination of AI and BI can be the competitive advantage for companies, as AI can help automate and analyze data to provide more accurate predictions of changes, while BI can help interpret them in a business context.
Data-driven decision making also helps make approval processes faster and more transparent, improving business operations. By leveraging insights, companies can identify new business opportunities, better serve customers, increase sales, and improve overall performance.
Finally, automation of sales, marketing, and operational activities through a widespread data-driven culture among staff improves cross-departmental collaboration and increases productivity!
What newsletters are useful for staying up-to-date with the world of data?
Here are a few that we at SYS-DAT Group have selected:
#powerbi
- SQLBI PowerBI Newsletter Marco Russo and Alberto Ferrari
- The Power BI Newsletter by Arno Wakfer
#machinelearning e #ai
- The Culture Of The Given by Stefano Gatti
- AI – Smart Company by Tiziano Cetarini
Happy reading!
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