Before you go through the process of a Factory Reset, try wiping the system cache partition. The system cache is its own partition, separate from the general user partition so it won't affect any of your data. Clearing the system cache after a system update is generally a good idea anyway. You need to reboot your phone into Recovery Mode to access the 'wipe cache partition' option:
http://www.hardreset.info/devices/huawei/huawei-ascend-g7/recovery-mode/
Another thing to try is install the 'GPS Status & Toolbox' app from Google Play. In its options menu there are 'Compass calibration', 'Calibrate pitch and roll', and 'Manage A-GPS state' selections you should run.
https://play.google.com/store/apps/details?id=com.eclipsim.gpsstatus2&hl=en