Leveraging Customer 360 Data for Strategic Decisions
In God we trust, all others must bring data. That saying is particularly true when it comes to making decisions about how to best interact with and sell to customers. Most of our daily decisions are based on gut – our innate ability to determine right from wrong, good from bad. But when it comes to making strategic business decisions, especially those that affect the customer, there is a better way than relying on gut or even educated assumptions. Data-driven decisions are fundamental in today’s competitive environment.
451 Research recently conducted a survey on this topic in their Voice of the Enterprise: Data & Analytics report. They identified personae of data-driven decision-making, posing the question, “To what extent would you say strategic decisions are currently ‘data-driven’ at your organization?” 84% of the 947 organizations surveyed said that at least some of the decisions at their organization are data-driven. At the top end, organizations that make nearly all strategic decisions based on data are called Data Drivers (17% of respondents), whereas organizations that make few decisions based on data are Data Drifters (16% of respondents).
The 451 Research report left me to consider why an organization might make strategic decisions based on gut versus on data. Here are five questions that should be considered in order to ensure decisions are being made with data.
What’s top of mind for your organization as you prepare to be more data-driven? In our webinar , Sheryl Kingstone, VP of Research at 451 Research, joins David Corrigan, VP Products Customer Insight at Informatica to share more research results, along with a framework for becoming data-driven. Sheryl will discuss how Data Drivers leapfrog Data Drifters in today’s experience economy. Register today and join Sheryl and David to hear the importance of Being Data-Driven in the Experience Economy.