Businesses leveraging data say that decision-making gives them a critical advantage over their competitors, especially during the pandemic. This fact comes from a new report penned by Tableau, who polled 3,500 senior managers and IT decision-makers in the UK and three European countries.
The most significant benefit cited by businesses that are placing data front and center is that they can communicate better with customers and employees.
Other advantages include being able to strategically make decisions faster and collaborate with teams to solve problems promptly. The businesses also see the data as an important tool in managing the adverse effects of the pandemic.
Companies are directing efforts at data
The report also found that the businesses felt they needed to be more agile to prioritize and deliver projects on time.
Tony Hammond, the VP of Strategy and Growth EMEA at Tableau, says that we live in an age of data. Research says that companies using data have clear advantages and profess assurance about the future of their businesses.
Because of this, they are now doubling down on data. Unfortunately, other companies have not yet woken up to this fact or are not practicing data-driven strategies.
It’s a changing landscape
Companies that have not yet leaned into using data are risking falling behind. The time is now. The digital transformation that companies are undergoing during the pandemic has seen a shift towards data-driven decisions.
It is not too late for companies that haven’t picked up on the trend to catch up. It is happening now, and with some measures, many of the lagging companies can leverage their data to understand their employees and customers better.
Across the industry, data companies are pooling resources and tools together to make sense of data. Businesses can benefit from that.