Why Your Strategy Isn't Enough
Peter Drucker: “Culture eats strategy for breakfast.”
The values, attitudes and behaviors of executives and employees make up the culture of a business. In recent years it has become clear that creating a data culture is a vital component in driving success. When culture, capabilities and strategies are aligned, excellence is achievable.
If you have developed a data culture, then turning data into information, knowledge, and insights results in decision making being driven by data. IDC research shows that companies that develop a strong data culture, versus peers who have not, are likely to:
generate stronger revenue and profit growth
improve employee productivity and retention
improve customer satisfaction and retention
increase innovation and reduced time to market
A strong data culture gets everyone on the same page. See https://www.webreply.com/post/is-your-team-all-on-the-same-page. When everyone understands what the strategies and priorities are, and clearly visualizes the importance of their personal contribution, increasing success is a natural outcome. This becomes a self-re-enforcing process.
As you would expect, executive role-modeling and support is vital if a business is to create a strong data culture. Dynamic executive dashboards have become a critical component in developing a company wide data culture and driving performance improvements across the board.
The benefits dynamic dashboards can deliver to senior leaders cascade down to all employees responsible for managing dynamic real time processes. Dynamic dashboards can provide:
A single version of truth that accurately describes what is happening right now
The ability to drill down and answer “why” questions
The ability to format the information presented in ways that optimize user internalization
Substantially reduced labor content for preparation and distribution of data
By having immediate access to high quality, real time actionable data, knowledge and high value insights increase rapidly and drive performance improvements company-wide.