In today’s world, every business should be digital. But we don’t necessarily mean that you should be selling software. We mean that you should be taking full advantage of technological advances by exploiting the huge amounts of data generated every day. The digital era brought with it an enormous amount of data. This data has the potential to transform your business into an insight-driven organization. Every day we generate 2.5 quintillion bytes of data, can you see the potential insights? If you do, then you understand that every business’s goal should be to become insights-driven.
Insights-driven organizations implement insights in every aspect of their business. Their main concern is not just smart data analytics, that is just the means to an end. The goal is to turn insights into action.
These organizations realize that their employees have knowledge that is far too valuable. They value the minds of those in the organization and take advantage of them by implementing their know-how and recommendations into their software and processes.
They also have a continuous process of learning and optimization. They take their data and gain insights from it. Then they turn the insights into action and use them to gain more data and learn more. It is a loop of learning and making insights-driven decisions.
One of the main reasons why insights-driven organizations are successful is because they understand that to get a competitive advantage, they must invest in a smart data discover tool that can provide them with insights. Then it becomes easy to discover insights on things they didn’t even think to analyze before. They can easily know what happened, when it happened, why it happened, how it happened, who are the relevant people, and how to solve the issue. And then they take all this and put it right back into the learning and optimization loop.
Insights-driven businesses apply their insights to their customers. By focusing on the customer, they are making sure to stay at the head of the race in the Age of the Consumer. They use data discovery tools to analyze data and gain insights on their customers to get to know them completely. Once they know them inside-out, they use the insights to drive engagement. The correct engagement allows the business to provide them with an offer that will exceed their expectations.
It’s not that hard. Like Brian Hopkins of Forrester mentioned, “What matters most is how you discover and implement digital insight in the fabric of your business. To do this, you don’t need more data; you need systems of insight driven from the top by a culture that values insights-to-execution”. You can easily become an insights-driven business with the help of the right tools. Panorama Necto 16 is leader in the insights discovery market, pushing automatic insights on 100% of your data. Like we mentioned, the right tool can boost your business to the top of the game.