6 steps to create a mindset for data-driven business transformation.

February 16, 2021 By: Bill Paul

In the shadow of COVID-19, companies need to transform themselves to better meet the digital demands of customers. To create a customer-friendly digital business, there are numerous factors that help organizations keep up with the demands of the times and scale in an innovative way. Here are 6 steps to create a mindset for data-driven business  transformation.

1. Speed is king.

In order to ensure a good customer experience, rapid digital transformation is a must. Although many technology investments and business launches have been put on hold in the past year, if the pandemic has taught us anything it is that speed to market wins. Technology and services that are quick to deliver produce more business value and gain customer trust. Leverage speed to gain a competitive advantage while giving customers exactly what they want. When you can move fast you’re able to take more risks and outlearn the competition. 

2. Leverage platform-based delivery.

A platform that integrates cloud, data, and technologies is a great way to accelerate delivery, and can play a crucial role in finding simple solutions to a variety of complex business concerns. The right platform helps you find innovative solutions with global tech and data – and the improvement in agility enables you both identify opportunities and handle threats.

3. Find the right ecosystem.

The right ecosystem can dramatically boost delivery speed. Spend the time identifying the resources that form your ecosystem and evaluating how well each meshes with organizational goals. Finding the right partner with a natural cultural fit is key to creating a healthy ecosystem and can elevate your business – aiding in the transformation to a great customer experience.

4. Gain getter understanding of requirements.

The easiest way to ensure quick delivery is to make sure you understand the requirements. Use processes like Continuous Product Design to ensure improved business KPIs and happy customers. Adopt a platform that helps you deliver not just more releases but the right releases.  Using an agile approach that directly connects with the consumer to understand how each phase matches their expectations enables you to get it right at each stage, leading to a better and quicker end product.

5. Get actionable data.

While quick delivery is essential, actionable data will boost your ability to sift through business results and make decisions. Too often, unorganized data sources are easily available, and this produces an overload of irrelevant information. Methods like a Continuous Product Design allow you to discover the intent, friction, and business impact of customer insights quickly. This helps minimize risk and maximize speed – while also helping your organization agree on priorities and releases more confidently.

6. Transform company culture and leadership.

Business transformation requires resilient leaders and companies. Make a point of creating tomorrow’s culture today – this willingness to grow is the key to laying a foundation for business success regardless of external circumstances. A cultural shift starts by first getting real about where the organization is currently and where it needs to go. Once the team knows the vision enable them with actionable data that is easy to consume so they can start taking smart action to move the org towards its goals. What else can we do?

✔ Redefine thoughts and values.

Examine your thoughts and values in order to get a good look at your underlying beliefs and behaviors. Challenging and changing yourself will be a significant step in making changes. 

✔ Communication is key.

Make it a point to have a clear, open communication line with your clients. Use a platform like Quantum Metric to ensure that your product design takes into account customer ideas and interactions. This makes sure your customers know that you are committed to delivering a better experience now and in the future. 

✔ Measure the impact.

Measuring impact is crucial to identify where you can engage in data-driven business transformation. It encourages innovation and shows that you are willing to learn and accept the past moving into the future. This is the culture of a company that can positively add value to the lives of more customers faster than the competition.

The bottom line.

Building businesses these days is no easy task. Yet it is, incredibly satisfying when you can confidently know that you are on the right track. Data-driven business transformation is a process that is worth waking up for because it is akin to the natural human need for growth. It lets customers know you are willing to make changes to ensure they have the best experience, it stimulates the employees that serve customers, and it will produce a competitive advantage if executed effectively.

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