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2.1 Basic Data Science

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23 views

2.1 Basic Data Science

Uploaded by

吉利蘇
Copyright
© © All Rights Reserved
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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2.

1 Data Drivenness
What Does "Data-Driven" Mean Exactly?

In a data-driven approach, decisions are made based on data instead of intuition.


Following a data-driven approach offers measurable advantages. That's because a
data-driven strategy uses facts and hard information rather than gut instinct.

Using a data-driven approach makes it easier to be objective about decisions. The


results of your data analysis can tell you whether it would be wise to follow a
particular course of action.
The Benefits of Data-Driven

1.Greater confidence in business decisions.


 Data-driven insights replace objective opinions with rational facts. This kind of deep data analysis
provides clarity you can't get from intuition or opinion alone.

 It lets you benchmark your existing performance and develop a clear path to reach your goals. 

2.  Clarity on business opportunities.


 You can leverage data to detect emerging threats and changes in the industry.

 That allows you to adapt faster. It also helps you identify emerging trends in the marketplace before
competitors do.

 Data helps you capitalize on new business opportunities more quickly.


3. More accurate predictions.

 Data-driven approaches help organizations discover powerful insights hidden in their data.
 It gives them the ability to test different business strategies with increasing accuracy.
 Mining data in near real-time can help organizations minimize the consequences of missteps.
 It also helps improve recovery time.

4. Improved agility and capacity to scale.

 Departments that can monitor metrics and track outcomes can use that information to adjust course.
 That makes it easier to make continuous, incremental changes and improvements.
 As a result, it opens up opportunities to change directions and execute new ideas faster. 
How to Create a Data-Driven Culture
Identify barriers within your organization

Encourage open communication

Help employees build the skill sets they need to develop data
literacy

Start small and give it time


Thank you

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