What does it mean to be data-driven?
Being data-driven means using all your data, regardless of division, team or legacy system, its a holistic approach.
Five key questions executive teams need to discuss on their journey to enabling a data-driven culture.
Data audit — what data do we have and where is it?
Do we have a map of where it all sits throughout the business and what it is used for? Are we allowed to hold the data we do? Is it compliant?
What’s my direction and strategy?
How do we use the data we have and how are we leveraging it in the best way so that it is an enabler and creator of value across the business?
What does the future look like for our business?
What data would we like to have relevant to channel, contacts, smart devices, social and customer preferences? What does our future strategy and technology road map look like?
Do I have the right data capture, teams and tools in place to actually execute?
Am I bringing together the left-brain and right-brain thinking of technology, data, marketing and creativity to deliver true customer centricity?
Being data-driven not only involves having a clear vision of what you want to achieve with your customers but also understanding them including what channel of communication do they prefer and when? What are they interested in? What do they want to know more of? Then actually building the systems and processes to bring it altogether to action those insights and provide that experience.
In the book Carmen references the 2012 Obama Campaign.
“The strategy and road map was led top down, knowing the importance of collecting quality data throughout the campaign to enable the data-driven initiatives; and clear Key Performance Indicators of “If you didn't get the data, you didn't do the deal.”
Take the next step to get Data Insight
At Data Insight, actionable insights are in our DNA. We don’t just turn data into information, we thrive on understanding the ‘So what?’. What does that insight mean for your business, how much is it worth and what can you do about it.
Every company has lots of data and information and this is only increasing over time as we collect more of it. However, all this has no value on its own. The key to unlocking it’s value is by uncovering insights, understanding what it means for your business and acting on them. This doesn’t mean building a dashboard or report and hoping that someone can find what they were looking for.