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Business LibreTexts

3.7: Advantages and challenges

  • Page ID
    36841
  • The advantages of a data-driven organisation are enormous. It:

    • Drives a customer-centric focus
    • Enables innovation in highly competitive markets
    • Improves ROI on campaigns and other marketing efforts
    • Allows for tactical decisions
    • Means no opinions are involved as it is evidence-based decision making.

    However, one cannot simply decide to be data-driven and have everything work out immediately. To be data-driven you:

    • Have to be data-driven in everything, no picking and choosing.
    • Have to persuade the entire organisation to adopt this mindset.
    • Need to set up an organisational structure that will enable data to flow easily.
    • Have to invest in the cycle and you need to invest in data to apply the insights that will help you get more data.
    • Need to keep in mind that the huge amount of data available can make finding meaningful patterns tricky.
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