Businesses create data analytic cultures from necessity. Businesses may exist in market spaces or have processes that can’t survive without data. John Weisz of JMP said that, when the market changes occur, companies that don’t use data get acquired by companies that do use data. Data analytic thinking grounds business decisions in data and removes risk moving forward. Companies with data analytic cultures demand valid data and solid analyses for decision making rather than basing decisions on anecdote and opinion. Thinking and acting data analytically allows businesses to respond to change by knowing how and when to respond.
A data analytic culture thrives when employees are empowered, trained, and provided with tools to use data. A data analytic culture requires that employees are given permission to fail. Looking at failure in a new light equals the understanding that not only will failure occur but, more importantly, what is learned from failure will drive improvement and success. In other words, “If you haven’t failed lately, you haven’t tried something new.”