Utilising data to make better business decisions is on the agenda for the majority of organisations, with almost three-quarters (74%) saying they want to be “data-driven,” according to a study by Forrester. However, data is only valuable if it transpires into meaningful actions – only 29% of organisations said their data efforts have led to actionable insights.
While there are many platforms out there that offer inbuilt analytics and insights, more often than not you’ll end up with a hefty amount of data – very little of which you can actually put to good use. To measure your data, analyse it and produce worthwhile, data-driven actions, you’ll need a team of experts to take the reins.
Generally speaking, there are three functions that fit under the data umbrella; collecting data, analysing it and producing actionable insights.
This blog by Noa Muratsubaki explains the differences between these three functions.