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Data can be the most important tool for your business in the pandemic

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(Image credit: Image Credit: Wk1003mike / Shutterstock)

Businesses that use data to make decisions say they enjoy a “critical advantage” over the competition, especially in the context of the Covid-19 pandemic.

This is according to a new report from Tableau, based on a poll of 3,500 senior managers and IT decision makers across the UK and three other European countries.

Among the businesses that cherish data, being able to communicate more effectively with both employees and customers is perceived as the biggest benefit. Other main advantages include being able to make strategic decisions faster, and enabling better collaboration across teams, which results in faster problem solving.

Further, businesses see data as an important tool to mitigate the effects of the pandemic. The report found that businesses identified the need to be more agile, as well as to effectively prioritize and deliver projects faster.

"In this age of data, our research shows that data-driven companies are seeing clear advantages and are more confident in the future of their business,” said Tony Hammond, Vice President Strategy and Growth EMEA, at Tableau.

“As a result, they are really leaning into the power of their data. Companies that have not yet woken up to this are at risk of falling behind. But all companies, large or small, can be reassured that it's not too late to harness the power of data - the time is now."