Data management and governance, essential for business innovation

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The use of large volumes of data, their systematization, processing and analysis is essential for business innovation.

Dec 28, 2022
Data-driven, cloud-enabled digital transformation

Much has been said about the importance of innovation in companies, and how this is directly proportional to their growth. It is known that it is not an easy task to maintain a state of permanent innovation, mainly due to the difficulty in decision-making due to lack of information.

However, it has been proven that having a data-driven strategy can become the boost that companies need.


What is a data-driven business strategy?
For business leaders, it is crucial to make the best rcs database to guide companies' lines of action and evaluate performance. The consensus is clear: data is an essential tool in this regard and there are different ways to implement it to improve business :

Determine page view patterns, social media usage, overall online brand sentiment, bounce rates, website traffic characteristics, and customer demographics.

Data on trends and seasonality of work within companies to redefine more productive lines of work and plan ahead.

Obtaining customer information to form project roadmaps and promote satisfied customers.

Compilation of comments, requests and surveys from users of products and services.

Ad data, insights, traffic, visitors and referrals to understand where to invest more, who to target with sales/advertising campaigns and which channels are most effective.


HubSpot BLOG

Data-driven organizations are 23 times more likely to acquire customers, six times more likely to retain customers, and 19 times more likely to be profitable.

Source: McKinsey



The use of Big Data for innovation in companies
Regarding the types of data, it is worth distinguishing the category of “Big Data”: those that exceed the processing capacity using conventional databases.

In this way, a Big Data program will allow the management of enormous amounts of data from a company to get the most out of them using analysis tools.

The use of this information brings many benefits, enabling the identification of patterns and areas of improvement essential for growth through innovation along with error correction.