It’s time to start maximizing data and using it as a strategic asset. Here are the ins and outs of creating a data-driven culture in your corporate training:
According to The Economist, data has long surpassed oil as the most valuable asset in the world today. And just recently, we’ve predicted that in 2020, more organizations will attempt to leverage data in corporate training and talent development. With this, it’s only necessary for us to harness it for the betterment of our respective organizations.
But before we dive deep into the world of big data, here’s an overview of what a data-driven culture is and some corporate training benefits that come with it:
What is a Data-Driven Culture?
A data-driven culture involves an environment wherein big data is used for the improvement of an organization when it comes to decision-making, business operations, marketing and sales, and such processes.
Big data refers to extremely large data sets that can be analyzed to reveal patterns, trends, and association especially relating to human behavior and interactions. To put it simply, it’s the data that organizations and companies can use to justify business decisions and actions, and to better predict their target audience’s behavior.
Benefits of Big Data in Corporate Training
Identifying skills gaps
Data analytics can help you identify the skills gaps across your organization through the data gathered from your employees. This data can be gathered using various methodologies such as setting key performance indicators (KPIs), conducting employee assessments, and doing 360-degree reviews. Through analyzing data about the skill levels of your employees and bench marking them with industry standards, you’ll be closer to addressing the real needs and demands of your organization, and your industry when it comes to skills and knowledge from your workforce.
Personalizing workplace learning
Personalization is now the norm. You can harness data and use them to personalize L&D programs and eLearning courses depending on the needs and goals of your learners. Having the relevant data to justify the learning recommendations for learners can help them realize that workplace learning initiatives aren’t just there because it’s necessary. But the specific and specialized courses are there because it’s backed up by real data.
Corporate training solutions providers now harness data and leverage AI to personalize the learning journey of its users. They recommend tailored training paths that make learning more relevant and engaging for learners.
Continuously improving L&D programs
Through data gathered from your learners, their learning journeys, and your eLearning platform, you can determine what areas of improvement to work on. This can help you make your courses, modules, and lessons better, and tailor-fit them based on the needs and demands of your employees. There are two major ways big data can improve your corporate training programs:
- Course content. Your internal data can give valuable insights about what to include and exclude in your course content. For example, if your employees are having a hard time negotiating with a client, your language training should include more intensive courses on business negotiations.
- Course assessment. Through data gathered from the evaluation and feedback from your employees, you can identify (a) which courses are in-demand, (b) which ones have the lowest enrollees, and (c) what consequences each of them might have.
Predicting future corporate training trends
Predictive analytics uses existing data to predict future events. Huge organizations have been harnessing big data in order to pave the way and innovate their respective corporate training programs. As a result, they can pioneer workplace learning trends which other companies can follow and replicate. One thing’s certain — the future of corporate training is bright. And it’s more timely than ever to maximize and leverage the use of big data to improve your organization’s workforce development and talent management.
How To Foster a Data-Driven Culture in Your Organization
Data is everywhere; it’s ubiquitous. With the rise of different software applications, huge organizations and large tech companies acquire our data. Certainly, your organization has a lot of stored data and information; thus, it could be harnessed for the development and growth of your employees and the company, in general.
Follow these steps to ensure a thriving data-driven culture in your organization:
1. Establish clear vision and goals
You should ask yourself and your stakeholders — what are we trying to achieve here? Do we want to know what makes our learners interested and engaged? Are we trying to identify the widening skills gap within the organization? Do we need to increase leads through our company website and landing page? What are our goals at the end of each language training?
Knowing what data to monitor and analyze will help you better develop a good learning strategy. Also, having a clear vision and set of goals gives you a benchmark on the areas you need to improve on.
2. Promote data literacy
One great way to foster a data-driven culture in your company is through implementing data literacy programs. Its main goals are to teach your employees how to handle data, inform them where they can get it, and educate them on how they can use it to help them in their everyday work. But always remember that it won’t happen overnight, so you should start small.
You can focus on one team first before going company-wide. Let them sharpen their data skills first to the point that they can already apply data in their everyday job-related tasks. After this, you can use what you’ve learned from your data literacy initiative from that team for your future training for the whole organization. Just remember to start small.
3. Make data accessible
It’s one thing that employees know that they have useful data at their disposal. But it’s another thing to let them know where they can get it. Insights tend to become incomplete when data is inaccessible. You should make sure that data is accessible to your employees by breaking down data silos.
These silos happen when organizations limit data only among departments and teams which causes difficulty for employees and other stakeholders to get the data and information they need. Breaking down these data silos reveals the interconnectedness of information to information among different departments and areas of your organization.
4. Align data with existing business goals
Truly leveraging data starts with organizing the available data sets across departments and teams. So it’s important for your organization to have clear business objectives in mind to determine how you can better organize your data and how you can interpret them.
More importantly, align your data with those objectives. You should target data-centric goals and focus on actionable KPIs that really give value to business. Examples are conversion rates, lead retention, and on-site purchases. Make sure that data is used in an actionable way to improve the organization’s internal processes and to benefit your customers and clients. Whatever department you’re dealing with, the bottomline is that data should be linked to goal-oriented tasks.
5. Use data in decision-making
Data won’t be useful if you don’t intend to use them to strike significant changes in your organization. It’s one of the best reasons why your organization should strive to have a data-driven culture. You can only determine whether or not your initiatives are successful when you can already back-up your organizational decisions using the data you already have.
Data is pointless if you don’t use them in decision-making processes in your organization. The thing with data-driven companies is that they’re more empirical and scientific in making choices and changes in their industry. This is because they use data analytics, conclusions, and insights from different sources and channels.
Fostering a data-driven culture in your organization doesn’t happen overnight. You gotta start somewhere, and you have to start small. Reaping the rewards of a data-driven culture is almost priceless because once you’re able to use data across departments of your organizations, you’ll be able to make wise choices and decisions to elevate your organization’s overall strategy.