Harness data to make better business conversations
The past 18 months sa a seismic shift in the way we work and communicate with our colleagues. From instant messaging to video conferencing, technology has enabled business leaders and employees to be more connected than ever before. However, while we are communicating more, we may not be communicating as effectively if we don’t have the data insights to inform our conversations.
The ability to make data-driven decisions depends on data literacy, access to information and software tools available. Without these key factors, there is a question mark over the quality of business conversations and just how enlightened decision-making at the top really is.
According to recent research commissioned by Tableau, almost 90% of C-suite executives think that a quality business conversation should have clear objectives, be honest and transparent, and lead to an outcome. A further 81% also felt that the availability of hard data is essential for an effective business conversation.
Over half said the ability to understand insights from data is as important as knowledge of the industry (54%). This fact is unsurprising after a recent UK government report revealed that 48% of businesses are recruiting for data-related roles.
The pandemic has transformed the way we talk business. On the relational side, 64% of executives believe that opportunities for informal conversations, i.e. “water cooler” moments, have been significantly impacted. This has undoubtedly affected the development of positive rapport and trust within teams.
On a more technical note, Tableau’s research, conducted by YouGov, found that half of senior executives feel the pandemic has revealed information gaps between teams. A lack of information or data on a topic and frustration around long meetings that do not result in a solution are further challenges.
These gaps are widening due to both the physical divide people have experienced since the start of the pandemic, and the information divide caused by fragmented technology systems, resulting in siloed data across an organisation. It is through access to real, unbiased and complete data sets that business leaders can have better conversations and make better decisions.
Putting data at the heart of business culture Data is key to dealing with the facts and building trust. Over 75% of business leaders surveyed by YouGov agreed that data is important because it reduces uncertainty and promotes accuracy. Business conversations without empirical data are at risk of being swayed by information that supports a specific argument. This is called confirmation bias, and while data insights might still be used selectively in conversation, if everyone has access to the same data it is much harder to bend the truth.
