Data is considered the “new oil” of companies. But, to achieve success in competitive markets, it is not enough to produce data: you need to know what to do with it. The guarantee is Opensoft, a Portuguese company specializing in the development of technological solutions.
According to opensoft, it is currently necessary for companies to have date-oriented management. However, there are three fundamental rules that must be followed for the data collected to be truly useful:
- Ensure data quality: Before drawing conclusions or making decisions based on the data, it is important to ensure that the data is of quality. Correcting errors and implementing measures that mitigate them in the future ensures that we work with reliable information;
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Define what data to analyze: Not all categories of data matter for all decision making. Selecting which data can generate the most potential value for each business area is an approach that applies intelligence to filtering;
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Use data products: data products (such as Google Analytics) are tools that take advantage of data to improve processes. Using those that already exist or creating one that exactly corresponds to the company's needs makes the process of analysis and drawing conclusions more agile and dynamic.
«We have left the era of management based on assumptions and entered the era of data-driven decisions – if organizations want to trigger internal optimizations and provide better service to customers, they must seriously consider extracting the maximum potential from the information they have at their disposal», said in a statement Rui Cruz, Project Director at Opensoft.
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