Long gone are the days when businesses made decisions based on instincts or uninformed beliefs. Advanced data analyticshas become a key aspect of any company’s activity. We talk about what power does the data hold, what are the data-drivendecisions and why they are the key to ensure the good performance of a company.
Before tech advancement, businesses had no convenient tools for data management. They ran all operations manually, keptdocumentation in paper folders, sorted information in an alphabetical order to quickly find it if necessary. Whentechnology made its way in becoming a fuel for business growth, everything changed. Organizations got automated tools togather, process, and manage data effortlessly. Now, we have measurable business objectives, KPIs, metrics to determineour direction for a reliable and safe decision making process.Data-based decision making enables executives to have an objective look at their business operations and processes, astheir goals are achieved by facts. With data-driven decision making, business strategy becomes smarter, clearer, andmore goal-oriented.