Intuition Is Important, But the Best Companies Rely on Data
Strategies for building a data-driven company culture.
Imagine you’re the chef of an award-winning restaurant. The season changes and you add a new steak dish to the menu. Weeks go by and practically no one orders it. The customers who do, never order the dish again.
As chef, this information would be valuable. You’d either nix the dish or figure out why it’s not selling — and fast. Maybe the majority of your diners are vegetarian, or maybe the waiters are forgetting to highlight the new special. The more information you can gather, the better your ability to make informed decisions.
Like restaurants, businesses face tough margins. To stay competitive, it’s essential to build a data-driven culture, which means using data, rather than simply intuition, to make decisions. You may think you know what users want, but if the numbers show otherwise, it’s crucial to dig deeper to discover what went wrong.
There are a host of benefits to building a data-driven culture. Don’t just take my word for it — consider the research:
- Tech Crunch reports that data-driven organizations have a 5–6 percent higher output and productivity than their less data-driven counterparts. They also have higher asset utilization, return on…
