How to Transform the Data Culture of Your Company
What is Data Culture?
Data Culture is a shared belief in the organization to use data to improve decision making and performance. It has essentially three important characteristics:- People are empowered to use data.
- Data is prioritized in decision making.
- Data assets are managed as products.
Why Data Culture is Important?
It is observed that data-driven organizations experience above-market growth, leading to increased revenue, profitability, and operational efficiency. In order to fully realize the benefit of a data-driven organization, data culture plays a crucial role. Clear ownership of data, customer sensitivity and keeping the data high quality and reliable should be part of the data culture. It cannot be an adhoc reactive measure. Long term data quality solutions require a strong data culture. Data is a shared responsibility of the organization and requires an end-to-end approach. Data producers and consumers can together work towards better documentation and classification. Here, collaboration is key to solving issues and to improve data. Also, an organization needs to have a clear understanding of where they are with data. So they can set clear goals, achieve those goals, and measure success.Key Aspects of Data Culture
1. Data Needs Clear Ownership
All important data must be owned. Individuals should not own important data assets. Team ownership is preferred over User ownership. It also pushes the data responsibility to a team instead of an individual user.2. Measure What Matters
You cannot improve what you do not measure. It is important to set metrics to understand how your data is doing. Based on that, you can set goals towards improving your data.3. Treat Data as a Product
- Maintain clear documentation of data with SLA and guarantees.
- Understand your user and use cases and build the data accordingly.
- Continuously improve data with discipline.
- Track user feedback using surveys.