Data as a Growth Enabler: Understanding Data’s True Use
- Elsa Barron
- Jun 30, 2023
- 2 min read
Businesses can create several chances for their brand and find solutions to difficulties by successfully utilising data. However, in order to effectively use and analyse data, employees need access to the appropriate data as well as the tools and resources to back up their conclusions and comprehend pertinent insights. By putting these crucial elements in place, organisations are better able to handle compelling data and analytics use cases and create value for both their stakeholders and consumers.
Teams are deploying and further developing assets to suit the requirements by generating instant value with data and analytics use cases.
It is further empowering the workforce to uphold values, encourages data use, and establishes a data culture to provide favourable results.
Since there is much to be produced in order to project value growth, data is still a hot topic. It assists in supplying info that has a purpose. According to a study by the Statista Research Department, more than 180 zettabytes of data will have been produced, recorded, reproduced, and used globally by 2025. But finding the right data source is frequently difficult. And for the user, determining its accuracy can be an impossible task.
Organisations all across the world are using data to build a data culture and boost organisational engagement. For the purpose of making decisions and generating value for all stakeholders, they are merging teams with a data-first approach.
According to a recent study, by the year 2025, the total quantity of data generated, collected, and used around the world is expected to increase from 64.2 zettabytes to more than 180 zettabytes. This suggests that the environment in which we live and work today is extremely complicated, with a lot of interrelated systems, operators, and operations creating networks.
Organisations must work together, establish a data purpose, and put tools and processes in place in order to achieve transformation. Data should be treated as an asset with economic worth to a company. For it to be effective, its presence must have a clear and obvious purpose. The data need to be focused on and in line with investment, upkeep, and expansion.
Comments