Data-Centric vs. Data-Driven Organizations

Published on: 28 February 2020 Last Updated on: 04 January 2024
Data-Centric vs Data-Driven Organizations

Regardless of the industry, you’re in, as the digital transformation era continues to fight upon Data-Centric vs Data-Driven information. there’s an increasing focus on customer experience and technologies that facilitate the improvement of experiences. Data-centric information is at the center of this transformation. Data is at the center of this transformation.

There are two main terms often used when discussing data and its role in digital transformation.

The first is data-centric organizations, and the second is data-driven organizations.

So how do the two compare, and which should you be striving for?

Data-Centric vs Data-Driven Organizations

Data-centric is an organization that’s reached the final stage of the data transformation and evolution. When you’re a data-centric organization, data and data science are the central foundational core of your business.

data driven organisation

In a data-centric organization, all key decision-makers and stakeholders have a holistic view of how data is used.

Data engineers maybe their own separate departments and they ensure that they’re developing a scalable infrastructure. In a data-centric organization, the data science department is its own entity and there is often a Chief Data Officer.

There is an efficient flow of information between the people who ultimately make decisions in the organizations and the data scientists, and there are formal processes for the implementation of data.

Often what will happen is that an organization believes itself to be data-centric when in reality is it’s application-centric.

There are silos that block the open flow of information, and applications are put in place to solve one specific problem without taking a holistic view.

Also, with an application-centric organization, you don’t fully own your data. Instead, the applications or vendors might own the data.

When you’re truly data-centric, there are enormous advantages. There aren’t silos and no one outside of your organization owns your data are two big ones.

If your objective is to become data-centric, your data is your main asset, and it’s a permanent asset even as applications come and go.

What’s a Data-Driven Organization?

Many organizations think they’re data-centric, but the reality is they’re data-driven.

Data-driven organizations aren’t bad by any means, and it’s a necessary phase to get to the point of being data-centric, but not fully there yet.

Data-driven means that your culture is collecting data and using it as an actional part of the business.

When you’re data-driven, you’re both acquiring and analyzing data to fuel decision-making and make better overall decisions.

data-driven

There are often certain features you’ll see uniformly with data-driven organizations.

One is that the executive leadership team is creative and curious.

To be data-driven, leadership has to be open-minded, and they have to appreciate challenges.

With this in mind, there is a distinction to be made between being data-driven and metrics-driven as well.

When companies have metrics-driven, which is what most companies are, they have performance indicators they track.

When you’re data-driven, it’s more about taking the body of data as a whole and gaining insights from it, rather than strictly measuring set KPIs.

A data-driven organization is likely to be more adept at innovation than one that’s metrics-driven.

Another feature across the board in most data-driven organizations is accessing. It’s important for data to be widely accessible to all employees.

Along with this comes the need to improve data literacy so that the transparency of the data has relevance.

Sometimes a metrics-driven organization is also referred to as data-informed. A data-informed organization is collecting data from different sources, it’s organized, and it’s well-documented. Decision-makers will always have a fight on Data-Centric vs Data-Driven information.

How Can You Move From Data-Driven to Data-Centric

The goal should be a move from data-driven to data-centric since data-centric is the full realization of data as its own entity.

Usually, the way that organizations can move from one step to the next is by learning from the best Data Science course and starting technically by gathering all the data and cataloging it. That then makes it possible to map it and create a data model.

Once the technical elements are taken care of, the processes can move up toward the business level.

Overall one of the main takeaways is that just because you’re using data in an actionable way, it doesn’t mean you are Data-Centric vs Data-Driven. There’s a required evolution from the acceptance that data is essential all the way through the full realization of being a data-centric organization.

With a data-centric organizational model, it allows you to take your architecture and interpret your data with agility. As the digital transformation continues to evolve, so will the nature of the data-centric organization.

Read also:

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

View all posts

Leave a Reply

Your email address will not be published. Required fields are marked *

Related

Technology Companies

Dos and Don’ts of Marketing for Technology Companies

Marketing is essential to the success of any business – and that includes technology companies. According to The CMO Survey, tech companies spend 15% of their total budget on marketing. Second, to Consumer Packaged Goods industry, the tech sector has one of the highest budget allocations for marketing. In fact, tech giant Samsung is considered the second largest advertising spender worldwide with a total  $9.2 billion advertising spending. This underlines the importance of marketing in the technology industry. When you don’t run an effective marketing campaign, you’re doomed to fail -- no matter how impressive your solution is. Unfortunately, a lot of tech companies, especially startups, still fail to recognize this fact. While some technology companies have marketing plans, many of these are ineffective. We’ve seen a lot of tech companies come and go. And many of those companies that failed didn’t give marketing the right attention it deserves. To these companies, hindsight is an amazing but useless thing! The good news is that you don’t have to commit the same missteps of these failing (or failed) tech companies. They are avoidable – and you can learn HOW to avoid them. Here are some do’s and don’ts of running an effective marketing for a technology company. DO: Be bold and interesting When a tech company grows, their marketing strategies tend to stagnate and settle with the ‘usual campaigns’ that may have worked for them in the past. But the problem is that the competition is ever evolving. As such, your marketing strategies need to stay bold, interesting and exciting too. Always remember that the moment you settle with formulaic marketing techniques, you become less competitive. Don’t wait to become irrelevant. Study your market, know where it’s headed and be ahead of the pack. DON’T: Set up and just wait for visitors So you’ve built a website, social media networks and added some content. But it shouldn’t end there. Don’t expect people to find and visit your page. You have to invest in promoting and marketing your online presence. Great content, social media presence and effective SEO for technology companies are vital to connecting with your customers. DO: Focus on your company instead of customers Perhaps the cliché, “the customer is always right” also means “the customer is king!” Unfortunately, not all tech companies realize this. Marketing campaigns of many tech companies focus so much on their products or services, but never really about their customers. But the fact is that customers only care about their problems, needs, and goals. They’d only want to know if you offer a solution to their problem. To engage their interest, talk about how you can help them and in the language they understand. Effective marketing talks about how you can solve a problem, and once you get their interest, you can then brag about your product’s features. DON’T: Spend too much or too little For your marketing campaign to be effective, it needs to be funded adequately. According to U.S. Small Business Administration, a company should devote at least 7 to 8 percent of your gross revenues for marketing and advertising. This underlines the importance of marketing. You will spend on various marketing channels, and maintain a good marketing and sales team. Scrimping on your marketing budget can do more harm than good to your tech company. A 2016 Gartner Survey shows that budget allocations for marketing continue to increase, climbing to 12% of the company budget. The tech industry is a very competitive one and there is a need to keep abreast with competition. However, this doesn’t mean you can spend all of your revenue on your marketing. You don’t want to pour in your budget on failing or badly-managed marketing techniques. Evaluate each of the marketing strategies you employ and see which one gives you the most ROI. Study your target audience and know how to engage them better. DO: Delegate to experts Maybe you’re a great developer or an experienced CEO, but that doesn’t make you a good marketing person or a salesman. This is a common mistake of many tech companies. While you can give your inputs and ideas, you should give your marketing team the flexibility to create an effective marketing campaign. Pick people who have the credentials to run your company’s marketing. DON’T: Ignore your online presence A lot of tech companies tend to ignore their website and social media channels soon after launching them. It’s a huge mistake! Launching a website or social channels is not a one-off thing. It needs a sustained marketing effort to get your website work for you. Consider your website as an investment and as a vital part of your marketing strategy. You’ll need the help of agencies providing continuous website development to ensure that your website remains up-to-date, functional and effective. Keep your web presence active and relevant - it’s an important part of your branding. DO: Focus your marketing efforts In an effort to get a wide audience, some tech companies create an unclear persona and a scattered, complicated marketing campaign. As a result, they end up wasting their budget. While you want to reach as much audience as possible, launching a marketing campaign without proper targeting can both costly and wasteful. You need a targeted and focused marketing. Know your product or service and engage a specific market segment, particularly those with the highest chances of conversion. Do your research and discover where your target audience is. Take note that not everyone is a potential customer – focus on channels that bring you the best results. For example, if you are marketing a tech solution for gamers, you will have the best returns if you place your ads on a gamers’ forum instead of a woodworkers’ forum. DO: Build a strong organic relationship Nowadays, it’s very easy to buy traffic or page visits from dodgy merchants. But the problem is that these numbers mean nothing to your business. Sadly, this remains one of the most common mistakes of many tech companies. In an attempt to boost their online presence in an instant, some companies resort to devious digital marketing schemes that promise to increase their web presence overnight. This is a major and wasteful misstep you should never do. Your marketing campaign should focus on building your product. Letting people know what solutions you offer, engaging your audience and building strong organic relationships. Invest your time and efforts into marketing strategies with good returns – and you’re on the right track. Read More:  Social Media Marketing role in Technology. Importance of Flexibility with Business Technology. Securing Mobile App Development with Blockchain Technology.    

READ MOREDetails
Business Strategies

5 Intelligent Sources to Boost Business Strategies all Over the World

As we all know very well that we are living in a modernized world where we have all types of facilities and options to tackle every type of situation in a better way. Well, the whole credit goes to modern technology which has provided us the best solutions to deal with the intelligent factors respectively. The positive effect of modern technology you can better see in the field of business where it is very much important and compulsory to have the finest solutions by all means. Luckily, we have the finest solution in these days because we have the best and intelligent devices for use. An iPad is one of the quality devices which is the perfect solution to deal with any type of situation intelligently without any hassle. No doubt, the iPad has brought up an intelligent modification solution in the field of business events as well in which everything will get settled in a better way. If you are thinking to boost up your business activities like a pro, here we will let you know about some intelligent solutions that will definitely bring you closer to the targeted aim. Moreover, these solutions will definitely provide you the best and impressive solutions to tackle everything in a better way. 5 Best Sources to Boost Business Intelligence: Take Participation in Business Events As we all know very well that business events are the only reliable solutions which can really provide a business immense benefits in which everything will get settled in a better way. Business events are the best and impressive solution to meet with other business owners face-to-face where you can better discuss your business intelligence. You will also get the best chances to use iPad Rental solution to provide a brief presentation to the attendees in which you can clearly describe every type of intelligent factor to the present audience. Through iPad use and other IT gadgets use, you can better grab the attention of the audience towards you which is the finest solution that you may see ever. Get Social Media Help and Support It is also a very effective solution to get help from social media platforms to boost your business intelligence in a better way. Social media is one of the greatest sources where you will get a better response from all over the world in a better way. Moreover, you will also get a lot more positive responses from different businesses as well. You can better share your business intelligence to spread know-how about your business across the world through this platform. Social media is the finest solution as compare to the traditional marketing solution. Social media solution has preferred across the world these days and people really prefer to utilize it by all means. Content Marketing Strategy Content marketing solution is one of the biggest platforms all over the world these days. You have to create an informative content marketing strategy to grab the attention of the people towards your business respectively. Through this impressive solution, you can better elaborate on others about your business niche and what type of services you are offering to the valued customers. The best way is to publish updates and solutions for the other businesses through where everyone can easily find out the best platform to remove all those hurdles intelligently which they really want to. Behavioral Targeting Solution This type of strategy is also very effective to boost business intelligence all over the world. Through this solution, you can better target the relevant audiences through searches. In this stage, your business profile will come in the list option where customers need to get search about the relevant niche business. Moreover, you have to make it strong by getting help from the professionals in which you could easily target the relevant audiences according to their searches. The Use of IT Gadgets Business meetings and events are the best platforms that will really provide business to stand up among the audience confidently. These events and meetings will also provide the business to grab attendees towards their business and services. The use of IT gadgets in these events is compulsory and you need to carry with you all those essential tools that will help you throughout the event. The best way is to utilize iPad Rental and other IT gadgets to hire solutions for events and meetings. In this solution, you just only need to pay a less amount to the service provider to get their IT gadgets on rental. These gadgets will also improve your image in the event and you will definitely get the right type of solution from them as well. It is the sign of intelligence that will never make you feel any type of hurdle in the whole event. Read Also:  The Versatility Of Clover POS Systems Tips And Tricks To Gaining Great Results From PPC How To Find A Locksmith To Trust With Your Home Security, Locks & Keys

READ MOREDetails
Virtual Data Rooms

The Power of Virtual Data Rooms for Real Estate Businesses

The data room software is a popular and versatile technology. It’s highly sought after by entrepreneurs for secure work environments in today's real estate industry. VDRs effectively automate and streamline numerous business processes, offering a secure platform for managing documents while fostering transparency among colleagues and employees. Their utilization ensures the utmost safety and efficiency in real estate operations. What is a VDR? Essentially, a VDR serves as a digital hub for storing business records, files, and other valuable items containing sensitive information. Prior to the emergence of VDRs, organizations predominantly relied on conventional file storage methods, which failed to provide the requisite level of security. Presently, VDRs encompass a range of features, including: Surprisingly enough, this software serves a purpose far beyond mere file storage. It also acts as a secure environment for sharing and exchanging sensitive information with others. This process is completely safeguarded through various tracking mechanisms that meticulously monitor every action taken within the VDRs. Should there be any unauthorized attempt or an individual trying to access restricted documents contrary to the security policy, the system promptly alerts you, ensuring the utmost security of your data. Among the remarkable attributes of VDRs is their capacity to facilitate comprehensive automation of operations. While this functionality was not initially inherent in the VDR concept, developers swiftly recognized the need to automate business processes in order to maintain a competitive edge. As a result, automation has become a standard feature across all data room services, significantly enhancing efficiency and productivity within the workplace. The impregnable fortress of VDRs makes breaching their defenses an incredibly daunting task. In fact, it can be argued that breaching a company's VDR is nearly impossible, as news reports rarely surface about such incidents. This remarkable level of protection is the result of the stringent security measures employed by VDR providers. In order to instill confidence in business owners regarding the exclusive use of VDRs for preserving sensitive company information, these providers actively strive to obtain independent certifications and gain recognition from governmental authorities. And so far, their efforts have proven successful. The integration of a virtual data room into your company's infrastructure is definitely worth considering. It holds the potential to deliver substantial time savings for your staff, allowing them to redirect their efforts toward more productive and critical tasks that contribute to the growth of your business. VDR in real estate transactions In the realm of real estate transactions, high-tech innovations such as VDRs have finally found their rightful place. Modern companies operating in this field face the constant need to adapt and automate tasks that were previously handled without the desired level of security and efficiency. Entrepreneurs from around the globe, particularly those in developed nations, are increasingly recognizing the significance of integrating VDRs right from the outset of their business endeavors. This holds true not only for the real estate sector but also for other industries that shape today's economic landscape, marked by the impact of economic crises. Even traditional businesses, which have been accustomed to more conventional approaches, are now contemplating the acquisition of this advanced technology that has gained immense popularity in recent times. Perhaps you're wondering, what sets digital data rooms apart from other corporate technologies available today. The answer lies in several key factors. Embracing this technology grants you the ability to streamline an extensive array of daily tasks, ensuring optimal efficiency in your operations. By implementing such improvements in your real estate business, you can have full confidence in the proper management of your financial endeavors. As enterprises endeavor to enhance efficiency and productivity, the significance of automating workplace tasks continues to grow. Automation facilitates cost reduction, heightened productivity, and enhanced precision. Furthermore, it minimizes the time expended on routine responsibilities, allowing employees to dedicate their efforts to more critical undertakings. By providing swifter and more reliable service, automation also contributes to improving customer satisfaction. The advent of these technologies has revolutionized interdepartmental communication within organizations. Recognizing the persistent challenge posed by communication issues in the wake of technological advancements, this solution has been purposefully engineered to address this concern across companies. It stands as the exclusive program that effectively tackles this challenge head-on. It comes as no surprise that businesses are actively seeking ways to enhance communication between departments, recognizing its potential to drive efficiency, collaboration, and productivity. By fostering improved communication, the prevalence of misunderstandings and miscommunications can be minimized, cultivating an environment of trust and cooperation. The utilization of this technology ensures meticulous organization and efficient indexing of documents, thereby enabling swift and seamless retrieval when urgent tasks arise. Document indexing stands as a vital tool for modern businesses, allowing them to maintain a well-structured and easily navigable repository of information. By associating documents with relevant keywords or tags, the process of locating specific files is greatly simplified. This, in turn, guarantees secure and systematic storage, preventing the loss or misplacement of important documents. Moreover, the accuracy of search results is significantly enhanced through indexing. Furthermore, this feature can serve as an impressive asset for crowdfunding campaigns, surprising investors with its efficiency and accessibility. When compared to traditional file storage, virtual data rooms stand out in numerous aspects, particularly in terms of security. The emphasis on security is fundamental in VDRs, and you can rest assured that reputable software developers prioritize this aspect to deliver an exceptional level of protection, surpassing what conventional methods can offer. Conclusion Real estate deals have reached a stage where automating these procedures and fostering investor confidence are absolutely crucial. The cutting-edge technologies we've explored today serve as prime illustrations of what you can swiftly integrate. Not only will you enjoy all the advantages outlined in this piece, but you'll also gain a few extra perks. Remember to reach out directly to the developer if you have specific needs, as they'll gladly accommodate and potentially establish conditions for your company's accelerated growth in a highly competitive market. Read Also: What You Are Paying For With A Virtual Data Room What Is Virtual Data Room Pricing? A Beginners Guide How Your Hedge Fund Will Benefit from a Virtual Deal Room

READ MOREDetails