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To speak the language of data is to revalue it


Big data everywhere and vital for doing business

I like to think of data as those games that form pictures with a series of points on a piece of paper, drawing lines that connect them to each other. Because this is how it works: each group of data gives us insights certain that we can use and use according to the path we choose to design. It can help us to make simple or complex connections, reinforce known paths or explore many other possible ones, and all this will depend on the intention that is pursued.

In 2021, the value of the data is fully accepted, and the need to involve them when defining strategies is increasingly repeated in companies. In fact, I am convinced that if you ask any company if the decision making in your organization is based on data, practically everyone will answer yes. But on a daily basis, how many are those who actually make decisions based on data? Much less. In reality, we find that decisions are still being made, even without realizing it, based on our beliefs, our learnings and traditions, security, among many other things, even though we are aware that data is essential.

The value of the data is fully accepted, and the need to involve them when defining strategies is increasingly repeated in companies

We just started talking about big data A few years ago, and we became obsessed with its potential, but after the initial infatuation, we saw that the capabilities required to process data in infinitely large quantities makes it difficult to obtain the information we need. And it is nothing new, without going any further, even before talking about big data there was already valuable data available to companies, which is known as “small-data”, And that no one was seeing or using.

That is, when the prospect of the big data very promising new possibilities were opened up, but not having been accompanied by a change of mindset, we continue to exploit its possibilities, whether from massive or small amounts of data. There are large companies, mainly Big Techs, that today do, because they have brought that mindset since their foundation, but the vast majority did not do it before and neither do they now.

Reality shows that every process in a company can be optimized and enhanced by the use of data

On the other hand, a “Data-driven” company knows how to use them in everything, from the simplest to the most complex, where machine learning or AI algorithms are involved in business decisions. This would be the most advanced in the use of data, but there are more basic actions that a company can take to take advantage of it: guarantee that the data is provided to those who need it, in a timely manner and that whoever needs it, knows who needs it and what for. It may seem ridiculous to propose something so basic, but nevertheless it is one of the main obstacles that today prevent companies from making decisions based on data.

It is usually called “data literacy”, And it has to do with the knowledge of the language of these technological tools, and its quality derives from the level of awareness of the employees of the importance that data contributes to their business and their daily work. It implies being able to read them properly, know how and what to use them for, and be able to draw useful conclusions from them.

IT specialist companies that work around recommendation algorithms, for example, already have profiles such as Chief Data Officer (CDO) and others who know their value in their structures. The question, however, is not there, but in the hundreds or thousands of employees whose positions are inevitably traversed by processes that data can make much more efficient, how do we guarantee that they can and know how to use it? It must be a definition of senior management to establish itself as something cultural of the company, creating a mind set of the value of data in the collective unconscious of everyone in the company.

Companies specializing in IT and working around recommendation algorithms, for example, already have profiles such as Chief Data Officer (CDO) and others who know their value in their structures.

Reality shows that every process in a company can be optimized and enhanced by the use of data: better personnel are hired in a better way, customer needs are better understood, better products are defined and better delivered, whether services or products. To see it in action, I would like to give some examples of developments that impact small and large businesses, developed by the company’s own Data teams in the region that illustrate the qualitative leap when each client’s data is valued:

– For a beverage brand, a solution with artificial intelligence was created that allows the seller, when he enters the bar where he leaves his merchandise, can make a video, and an algorithm tells him at the time if his products are well distributed or not, as well as the arrangement of your advertising posters, and suggest actions to optimize it in each case, when necessary.

– For an electricity company that works with trucks for maintenance on the streets, we include in each unit, a camera that records from the ceiling the cables that are hanging, and each time it identifies a problem with the transformer, or a cable on the loose, it issues an automatic notice for the company to go to that point directly to make the repair as soon as possible.

– For a retail company, we developed an algorithm of Net Promoting Square (NPS), which shows how likely the customer would recommend your service. It is an indicator of the utmost importance, and people do not usually answer these types of surveys. Then, based on all the points of contact with each client, combined with the consumption and consultation data that is collected daily, the NPS is estimated for each one. The value is enormous, especially when you have massive amounts of customers, and on whom you can launch proactive actions that can be implemented when you know their level of compliance in advance.

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