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How a strong data strategy supercharges business success

Nov 9, 2023 | Admin, Data Integration, Latest News

You need a data strategy plan to get the most value from your company’s digital transformation. If any of these issues sound like your database, it’s time to remedy them before embarking on digital transformation.  

Based on McKinsey Analytics research, 61 percent of companies that acknowledge the impact of data and analytics on core business practices still need to take an ad-hoc approach to analytics instead of developing a full-fledged data strategy. This approach of addressing data quality last will surely interfere with a successful digital transformation. 

Data is not just a byproduct of business operations but a valuable asset that can fuel growth, innovation, and competitive advantage. Crafting a robust data strategy is essential in this data-centric era, as it lays the foundation for how your organization collects, manages, analyzes, and leverages data to achieve its goals. 

While there isn’t a one-size-fits-all data strategy suitable for every organization, there are common pitfalls that all organizations need to be cautious about. Here are six examples. 

data strategy

 

Data Solutions Start With The End Goal

The most compelling data strategies begin with the end goal in mind. 

It’s easy to lose sight of what data matters to your business objectives. We’ve encountered numerous companies that invest too much time in tracking irrelevant metrics. For instance, they input data on dashboards that show fluctuations, but they never address the fundamental business question: “How are we using this data?”

 

Start with a clear strategy  

Modern systems can’t compensate for unclear values. Starting with a clear strategy will help determine the tools most instrumental in achieving those goals. And consider how these tools can work together to analyze complex metrics. 

For instance, if your primary objective is to track high-quality leads, you will need more than just website traffic to provide insights into how individuals enter the sales funnel and where and why they drop off. Before introducing a new tool, ensure that you clearly understand the problem you intend to address. 

 

Partner with an experienced team

Perhaps your organization has already deployed CRM tools, and you have all the necessary equipment. However, you may still be encountering less-than-ideal outcomes and limited user engagement. 

Achieving widespread and enthusiastic adoption of Salesforce systems recently implemented usually requires a deep comprehension of how these transformative tools can enhance operational efficiency in the daily work lives of every user. 

We can help. 

During the Simplus’ Adoption Health Check, we strive to guarantee that the tools implemented in Salesforce are user-centric and effectively communicated across the entire organization. 

To ensure your team is prepared, our change management experts excel at delving into the situation to identify any obstacles, assess the current state of adoption, and offer solutions to overcome any hindrances. 

A typical engagement spans five days, commences with a survey to gain initial insights into employee sentiment, and culminates with practical recommendations for enhancing your Salesforce return on investment.

In today’s data-driven environment, a robust data strategy is a fundamental requirement for any business aiming to succeed. By recognizing the potential of data and harnessing it to guide current and forthcoming predictive decision-making, organizations can enhance their performance and expedite their growth path.

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