Sep 2016, by Isha Suhag, Designer
Companies that capture and analyse data, discover insights, and take action on those insights are better positioned to have a competitive business advantage in their sector. Data driven companies harvest data to make smart business decisions. As a brand it is important to instill the habit of data-driven decision making into your business.
A study from the MIT Center for Digital Business found that organizations that are most driven by data-based decision making had 4% higher productivity rates and 6% higher profits. This is partly due to the fact that decisions based on evidence are far more reliable than the potentially biased ones based on instinct or assumptions. Brands who consistently tap into the insights gained from their data can innovate and find solutions to problems and trends that they identify over time. This data also helps the employees connect their performance to business results, which helps them identify new opportunities for improvement.
We recently worked with Populus, a research consultancy that helps businesses to shape data-driven strategies based on a deep understanding of their key audiences, which has been derived from data. The following are a few insights into the world of presenting data.