No one wants to be data-driven
There’s a very clear process to support your business with data. And there are four equally clear reasons companies fail to follow through:
The process goes like this:
You identify your key business objectives (growth, revenue,…)
You identify your key business questions, the things you need to learn, and the knowledge you need to gain to achieve your objective
You figure out the most important questions, the ones that bring the most bang for your buck
you get data, develop a good process around it, and you’re done.
So, where do people fail?
Step 4: 10% … because they fail to turn an insight once into a continual process.
Step 3: 10% … because they fail to write a good business case but rather default on whatever data they can find.
Step 2: 30% … because they don’t know what they want to know.
Step 1: 50% … because their company strategy sucks.