In an age when data is more valuable than money itself, it is the driver of success regardless of industry, size of business and any other factor. Why? Because it strays away from making decisions in the dark. Data-inclusive decisions analyse pattern and behaviour so (almost) every decision is calculated with varying margins of success. However, there is a distinction between being data-driven and being data-informed. Most, if not all organisations have access to some form of data. But there’s more to data than gathering and collating it.

 The true value of data lays in what we do with it. How do we analyse the numbers to make sense of decisions we want to make? How do we categorise data into formats that drive growth? These all come down to the analytics of data. Aside from the analytics, however, is your company focusing on data-driven decisions or data-informed decisions? Before you go any further, yes, there is a difference and it’s significant enough to warrant a look into how your organisation categorises data and how it consumes it. This can greatly impact the way in which you see your data and the success in the implementation of decisions derived from understanding your data. 

Data analytics consulting services

What are data-driven decisions?

Data-driven decisions focus just on the data. Decisions are derived purely from the numbers and whichever manner your analysts choose to see them. Companies relying solely on this strategy to make decisions risk diving into a very dangerous zone. Why? Because this form of decision making eliminates any qualitative understandings you may have of your data sources. 

 

Then, what are data-informed decisions?

Data-informed decisions include data but also merge human behaviour elements into it. This type of decision making balances the information received from analysing data alongside what one knows about the data in a qualitative aspect. For instance, if you are looking at audience-based data, decisions you make on a marketing campaign will be the result of making sense of the data and past experience, intuitive judgement and other qualitative factors that help analyse your audience. 

 

Finding the middle ground: Informed vs driven 

Businesses that employ both data-driven and data-informed decisions find the most success. So, how do you find that middle ground and when do you know if you should incorporate a human element to it, as well?

The key is to evaluate if what you’re doing requires human dynamic elements incorporated into it. Most often than not, the answer is going to be yes. That means, almost all decisions will require you to carefully look into qualitative aspects of the data sources. If you are a B2C, making more data-informed decisions is vital than a B2B. 

 

Making the right decisions every time: Data analytics consulting services Singapore

If the whole data-driven and data-informed discussion is going over your head, don’t sweat it. Data can be overwhelming, but it doesn’t have to be. Hire the expert help of Digital Squad, a leading digital marketing agency Singapore to make sense of the data and what you can do with it. We take the hard work out so you can focus on what really matters: creating meaningful relationships with honest strategies to realise business success. Digital analytics Singapore services from Digital Squad will be the best decision, both informed and driven.