Smart decisions Data-driven marketing

The Data Perspective: Step up or lose out

07 Jan 2020

It’s time to shift perspective because If you don’t step up, you won’t survive until 2030.

“Essential for our business to expand and increase both productivity and profit”

— UK CEO running a 1000+ employee organization, on the use of data analytics in business.

Our most recent report, Management: Step upThe seven steps to a data-driven organization that top management must take reveals that many top European CxOs believe in the importance of Data and Data Analytics, but not all are on board. The report points to several reasons as to why might be, in some cases caution to the point of inaction, in others a lack of adequate processes in place to take advantage of the opportunities that data can provide. 

Confusion stalling business growth

The report reveals confusion when it comes to how to manage data, how to allocate budgets and exposes business cultures not optimized when it comes to best adapting to a data-driven business world. By looking into these failings, we have advised how to best prepare for success when it comes to data-driven decision making. No more bad decisions the driving mantra running to the core of Bisnode’s data analytics division, our report is a guide to help you make the right decisions when it comes to adapting and surviving in today’s ever-shifting data-rich business landscape.

A change in mindset

To be able to shift perspective and move towards being more data-driven, CxOs need to steer organizations to become more innovative and open-minded rather than being “predictable environments where people are rather safe than sorry”1, this way they will be best able to adapt to the new technologies and learn how to master and steer them to their advantage.

Keeping up

Businesses are continuing to try to fully comprehend the speed of change. Faster communication services are coming online, and rapid processes of automation are coming into effect in addition to communication and processes, access to an ever-increasing stream of data is revolutionizing nearly all aspects of business today. As business becomes ever more data-driven it becomes clearer and clearer that data analytics as a business skill is more vital than ever.

All data and no talent

However, attracting adequate talent and improving education for top management teams about data analytics and data-driven decision making to continues to be a worry for many, even for those adapting fast to the new data driven business landscape2. As businesses attempt to move from being data conversant to data fluent, they are running into difficulties in recruiting as a result of the lack of adequate talent in analytics become more and more clear.

For all our recommendation on how business manager today can best adapt and take leading roles in today’s increasingly data-driven business landscape download the full report here.

Go to the report

1. Download the report above.

2. from ‘Step #4: Promote learning and achieving’ in the Bisnode report.