Study Shows Data Gives the Edge

Francis Bacon said that knowledge is power.  In today’s world, that saying couldn’t be more true.  Recent findings by the Economist Intelligence Unit has shown that companies that have a data-driven culture rate themselves ahead of their peers financially.

Relying heavily on data is nothing new.  The general tradition is to have data analyst to go over the numbers to make recommendations.  However, there is an emerging culture of having the data integrated into the day-to-day doings of business.

With data is more hands, it allows employees to understand what and why they are doing.  Individuals with the gumption may even make recommendations of their own.  As long as they use the data to present their case, there’s no out right reason to dismiss them.

In the end, having more minds thinking about the data will edge out those who limit the pool.