Gapsquare Blog

4 STEPS TO BECOMING A DATA-DRIVEN COMPANY

Posted by Zara Nanu on Nov 11, 2015 11:03:00 AM

Big data is a growing industry and data driven companies are quickly becoming more valuable as they take more informed decisions and increase their bottom line. Large corporations have been leveraging information to their advantage for some time. But big data is not only for big companies – organisations of any size can become data driven. It's what we do at Gapsquare, it's how we plan to end the gender Pay Gap.  

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Here are some of our tips on how to become a data driven company:

  1. Identify your data needs

    Talk to the stakeholders in your company or department to identify the data that could help facilitate better decisions. Is it customer data? Employee related data? Product data? Chances are that you already have that data in the company or could buy it in. keep track of the data protection act and any changes in law, but knowing what the right data looks like is a start. 
  1. Build your data

    If you have the data already, bring it together and have it ready for analysis. Set up processes that will facilitate the collection of data as you move forward. If these are the first steps you are taking towards building your data power, don’t hesitate to call in expertise and help. There might be services out there that can help you build a robust big data system without putting any pressure on your company.
  1. Visualise it

    Having access to data is one thing, but visualising it in a meaningful way is another. A graph is only as good as it can be read and interpreted. Visualising big data is an art. Not only an art as design, but communication art. Talk to your stakeholders and identify a visualisation tool that responds to your needs, try Gapsquare. There are many tools out there already – such as Tableau or PowerBI, and there are custom applications too. Remember that there is no such thing as one size fits when it comes to visualisation needs.
  1. Use it 

    Data needs to be maintained and refreshed in order to keep up with the changes in your company. Make sure your analysis is on-going and identified trends and insights are used regularly in decision-making.

    As you start on this journey, we’d be happy to talk to you about becoming more data driven in closing the gender pay gap. Leave us a comment or talk to us on Facebook or Twitter.

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Tags: Data to improve decision making

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