This blog post is part three of our blog series: becoming data-driven is not just an IT responsibility. We have set a data strategy based upon the company objectives, and we mapped out our existing data and processes in the previous blog posts. We will use both to clearly define what data and processes are relevant and required to meet our targets tomorrow. And even more important, allow us to this in the most efficient way possible.
Focus on the targets, not the data.
By now, it goes without saying that the most important focus points are your company's and personal targets. So given the data and processes available, are you reaching your goals? Are your data & processes helping you to work towards your objectives in the most efficient manner?
To help you evaluate this, we'll split it up into ten essential questions you should be asking yourself:
- What data and processes do I use today?
- Do these help me to reach the company's targets?
- Could this be done more efficiently?
- Is it easy for me to obtain these insights? Do we need to work with a third party to obtain the data?
- Am I dependent on other teams/roles to access data for the information and insights I need?
- How fast can I get insights out of this data without help from others?
- How many hours of manual work are required to pull this data and insights?
- What data and processes would I need to achieve these targets more efficiently? What is missing? (The gap)
- What added value would it bring for the company and me to close this gap?
- How could the missing data be collected? Who and what processes do I need to set this up for me?
By answering these 10 questions, you have worked out a first evaluation of your current data sources and processes, and what required data sources and processes are still missing here.
Why is this evaluation important?
By doing this exercise, you'll get better insights in what data is used or which processes are in place today, nonetheless they do not add value. They may make you feel overwhelmed and distract you for reaching your targets. Knowing what data sources and processes are required will bring more focus and valuable insights that efficiently outline opportunities to reach the targets.
It gives you a good understanding of what is still missing (the gap) to become data-driven. And what is needed to speed up and be innovate, so you stay ahead of the competitors, obtain a positive ROI and increase the customer lifetime value on the long term.
In the next part, we will use this evaluation to write an implementation plan that digs the gap between where you are today and what you want to reach.
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