Sunday, September 24, 2023

Factors to Ensure Data-Driven Business Operations

By Nikhil Sonawane - December 08, 2022 4 Mins Read


Modern businesses have a surfeit of data, which they can leverage to improve operations efficiency, increase team productivity and enhance the customer experience. Many businesses have successfully embraced big data in their operations to gather, store and process structured and unstructured data through all the channels.

Enterprises that have embraced data-driven operation in all the departments have enabled them to execute business operations with ease and achieve the desired results. Just gathering the data without evaluating it will drain all the efforts and finances. Such enterprises need data tech stack and management processes that transform the data into statistics that can offer valuable business insights. However, it is one of the most challenging tasks for the CDOs to establish data-driven operations and utilize data to make informed business decisions.

Following are a few factors that the DataOps teams can consider to establish data-driven operations:

Also Read: Achieving Sustainable Business Growth with Automation-Led ESG

Scope of the data management strategy

Efficient data-driven business operations will have effective tools and resources required to gather, store and evaluate data throughout all the channels. CDOs need to ensure that all the data gathered is utilized to drive operational excellence, increase business ROI and accomplish the business objectives.

One of the core aspects that DataOps teams consider while implementing data management strategies is to understand which type of data is relevant and through which channels it is gathered in.

Another important factor that CDOs consider is developing capabilities that enable the workforce to utilize data in real time. It is essential for businesses to spot the particular data sets from the huge data pools that help business leaders to make strategic decisions.

DataOps should determine the entire scope of the organization’s data management strategy to optimize the entire process. Designing and implementing data domains will enable organizations to get a holistic view of the complete organizational data depending on various categories such as employees, customers, vendors, etc.

Consider data as a product

Businesses that want to optimize their data management processes should start considering the data as a product. Many CDOs have successfully embraced this approach and are reaping its benefits of it. Considering data as a product will enable DataOps teams to establish quality checks at every stage of data processing to ensure only quality data is processed. DataOps teams should design and implement layers that examine the data quality before forwarding it to different channels or departments.

Also Read: Top Data Analytics Trends That Will Effect Businesses in 2023

Convert data analytics insights into action

CDOs should consider integrating data analytics and business intelligence tools in their data tech stack to transform unstructured data into actionable insights. It can be a challenging task to explore, evaluate and implement the right data analytics solution that offers holistic insights

into the entire business model. A crucial factor that needs to be considered while integrating data analytics tools is its ability to represent the data that can be interpreted easily.

Structure data based on users’ needs

Enterprises, while developing efficient data management practices, should consider structuring and organizing data sets based on users’ needs to enhance the capabilities of their core operations. One of the most crucial aspects that will help businesses to ensure a successful data management strategy is structuring the data and aligning it with business objectives. Customization is all about determining the target users’ intent and providing them with data accordingly. CDOs should consider increasing their data tech stack budgets to increase the organization’s capabilities to gather unstructured data and transform it into structured data that can be interpreted.

Organizations that have less gap in their data management strategies and business objectives will be able to utilize the data efficiently.

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Nikhil Sonawane

Nikhil Sonawane is a Tech Journalist with OnDot Media. He has 4+ years of technical expertise in drafting content strategies for Blockchain, Supply Chain Management, Artificial Intelligence, and IoT. His Commitment to ongoing learning and improvement helps him to deliver thought-provoking insights and analysis on complex technologies and tools that are revolutionizing modern enterprises. He brings his eye for editorial detail and keen sense of language skills to every article he writes. If he is not working, he will be found on treks, walking in forests, or swimming in the ocean.

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