What does it take to have data-driven financial management?
Posted: Wed Jan 22, 2025 9:45 am
Before data dominated market decisions, many strategic choices were based more on insights or assumptions. While these actions yielded good results, it was like shooting in the dark. Sometimes it could work out very well, and other times it could lead to big mistakes.
So, with the advancement of Data Science in the financial market, many people realized how important it was to have information to base their work on. But what is the best way to implement data-driven management? Let's take a look at some tips below!
Determine the objectives
As with any initiative based on more than one step, it is necessary to indonesia phone number list an objective. After all, the amount of data is huge, there are hundreds of them, many of which are in a raw state and, if not directed, are useless. Therefore, the first tip is to define what the intention is with data processing.
Analyze customer profiles
As a second step, it is important to assess the profile of your consumers. This will be part of the data processing and can greatly help define what you really want to capture and transform into information for decision-making.
Make a plan
With your objective defined and your customers in mind, now is the time to plan strategies to achieve your goals. Always base any decision on the data you have captured to ensure greater security .
Update the data
As the strategy progresses, it is important to understand that some data has an expiration date. Changes happen, including behavioral changes, and it is very important that the company continues to capture and monitor these changes and update its database.
Use tools
Finally, we recommend the use of data management tools. These are ERP software that can not only help capture and monitor data, but also assist in analysis, providing reports and graphs so that management has an adequate view of what is happening.
So, with the advancement of Data Science in the financial market, many people realized how important it was to have information to base their work on. But what is the best way to implement data-driven management? Let's take a look at some tips below!
Determine the objectives
As with any initiative based on more than one step, it is necessary to indonesia phone number list an objective. After all, the amount of data is huge, there are hundreds of them, many of which are in a raw state and, if not directed, are useless. Therefore, the first tip is to define what the intention is with data processing.
Analyze customer profiles
As a second step, it is important to assess the profile of your consumers. This will be part of the data processing and can greatly help define what you really want to capture and transform into information for decision-making.
Make a plan
With your objective defined and your customers in mind, now is the time to plan strategies to achieve your goals. Always base any decision on the data you have captured to ensure greater security .
Update the data
As the strategy progresses, it is important to understand that some data has an expiration date. Changes happen, including behavioral changes, and it is very important that the company continues to capture and monitor these changes and update its database.
Use tools
Finally, we recommend the use of data management tools. These are ERP software that can not only help capture and monitor data, but also assist in analysis, providing reports and graphs so that management has an adequate view of what is happening.