New Lexico Video Series Defines What Data-Driven Really Means and Why It’s Important
By: Cynthia Short
There’s a huge push for businesses to be more data-driven. Data-driven strategy. Data-driven decisions. Data-driven culture. You hear the phrase “data-driven” everywhere, but with most organizations, it is not a buzzword – it’s a business imperative. So where do you start?
With our clients, Lexico starts by clarifying what data-driven is and why it’s important for businesses to not just survive, but thrive. And that’s just the beginning.
In our video series on Data-Driven Organizations, Lexico will not only define what a data-driven organization is, but also help you design the required culture change to enable it and avoid the common pitfalls along the way. Featuring conversations with our expert advisors, we’ll glean their insights on this transformation to becoming a data-driven organization.
In this video, Defining Data-Driven, Lexico lead advisor Dan Mishich and I break down the meaning of data-driven and why it is important for business leaders to make this critical transformation to data-driven strategy and data-driven decisions.
Looking for guidance on how to become a data-driven organization? Contact Lexico.
Awesome. Like we mentioned today, we’re talking about data-driven organizations and really what that means and why it’s important. So, you know, to kind of kick things off, I just would put out there, I’m interested in your thoughts around, you know, why data-driven, why this big push and, and a lot of effort across organizations and just industries as a whole, that this push to become data-driven organizations. Why do you think now more than ever that that’s important?
Yeah, at its essence, at its core, it’s about you know, fact-based decisions based on data and analytics it’s helping organizations, you know, drive those operational efficiencies. You’re right. It can vary from organization to organization how they use it, they could use it just purely just to drive efficiencies in their ops of how to do continuous improvement, track metrics, look for those opportunities to kind of streamline and automate their processes. Organizations can take it to the next level, just to better understand like the customers that they serve, glean those insights from those customers, without a customer, really ever telling them, you know, exactly what it is their needs or wants or how they want to be serviced. And then I’m at the forefront. Like I had mentioned, you know, it’s about it can be about innovation as well. Getting the insights as far as maybe what are some of those opportunities to kind of go out there and kind of capitalize on for an organization areas that, you know, they otherwise, without that data just wouldn’t be able to glean in on.
Thank you for having me.