Being data driven has become something of a holy grail for modern organizations, and with good reason. According to a 2014 Economist Intelligence Unit survey of 362 global executives, it pays to be data driven in a myriad of ways. The survey revealed a direct, linear relationship between data-driven decision making and the performance of key revenue and cost efficiency drivers, with data-driven organizations’ significantly outperforming other organizations across the board.
There are many pre-requisites to an organization’s becoming data driven, but perhaps none is more critical than having a culture that enables and, indeed, encourages objective, data-informed decision making. In fact, in a recent survey of its members, APQC found that 36 percent of respondent organizations consider establishing a data-driven culture to be their top data and analytics challenge—the second most frequently cited challenge. This is an executive summary of the full best practices report, Change Management Practices for Establishing a Data-driven Culture, which presents the steps required to build a data driven culture in your organization.