Name: How to be a data-driven organisation
Uploaded: 2023-05-16T13:10:31.351Z
Duration: 429.28
Description: Too often the term 'data-driven' is used in business without actual know-how or methodology applied behind it. We sat down with Piers Alington from Alington Consulting, to find out how to become a truly 'data-driven organisation' and what benefits you can unlock in the process.

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English

{{00:00:00}}
Hi, I'm Piers Alington.

{{00:00:02}}
I run an independent consultancy,
Alington Consulting, which helps

{{00:00:07}}
companies improve their voice of
customer feedback and the text analytics

{{00:00:11}}
of what customers are talking about.

{{00:00:25}}
So, what does it mean for
companies to be data driven?

{{00:00:29}}
In essence, it means collecting
data from a variety of sources.

{{00:00:33}}
It can be customer feedback, it can be
transaction data about customers and the

{{00:00:37}}
products they use and by the interactions
they have, and analyzing that data in such

{{00:00:44}}
a way that it provides useful insight to
the business to be able to change things.

{{00:00:49}}
It's not about just information
for information's sake.

{{00:00:54}}
I think the most important thing
to be data driven as a company

{{00:00:59}}
is to want to be that way.

{{00:01:01}}
The people involved and the departments
and the networks within the business

{{00:01:08}}
need to be receptive to using data
and insight, to make those changes.

{{00:01:14}}
Too often data is either mistrusted,
or it might be wrong, or it's

{{00:01:19}}
difficult to analyze and extract
the insight that changes can be

{{00:01:24}}
identified and made from that.

{{00:01:27}}
The advantages of being data driven
are that you make decisions based on

{{00:01:32}}
fact as opposed to whim or best guess.

{{00:01:36}}
There's a famous quote, so famous, I can't
remember who said it, but they said, "In

{{00:01:41}}
God, we trust all others must bring data."

{{00:01:45}}
And that's true.

{{00:01:46}}
You need the data in order
to make informed decisions,

{{00:01:49}}
otherwise, you are guessing.

{{00:01:52}}
And so being data driven is all
about collecting the data that will

{{00:01:56}}
enable the company to make better
decisions, to make better improvements

{{00:02:00}}
and change the company for the best.

{{00:02:02}}
It's, it's a pretty
simple equation, really.

{{00:02:05}}
The challenges in many
respects are twofold.

{{00:02:09}}
One is getting the data in the first
place, and the second is making sure

{{00:02:14}}
the data is usable and in usable
I mean, is it accurate enough?

{{00:02:19}}
Is it the same?

{{00:02:20}}
Is it consistent?

{{00:02:22}}
That's the biggest hurdle, number
one, making the data clean and usable.

{{00:02:27}}
The second biggest hurdle is
how do you extract the data?

{{00:02:30}}
What tools do you use?

{{00:02:31}}
And who's doing that analysis of
the data with those tools to provide

{{00:02:36}}
the company with actionable insight.

{{00:02:38}}
And actionable is simply, is
it useful and can we use it?

{{00:02:43}}
So those two things together
should drive and can drive

{{00:02:46}}
actionable insight from the data.

{{00:02:49}}
Is it better to be data
driven or data informed?

{{00:02:53}}
So you have to be data informed, data
aware, data willing, I suppose, in

{{00:02:59}}
the first place to be data driven.

{{00:03:02}}
You have to accept that there
is data that's useful that will

{{00:03:05}}
drive decisions for the business.

{{00:03:07}}
So you need to know what that data is,
how are we gonna get it and manage it.

{{00:03:11}}
And then you can drive a
business using that insight.

{{00:03:16}}
Where do companies say that they're
data driven and where that's perhaps not

{{00:03:22}}
really happening within the organisation?

{{00:03:24}}
I, I think virtually every
company is guilty of that.

{{00:03:28}}
It's very much one of the, the
glib phrases that people overuse.

{{00:03:34}}
They probably link things like
big data, and using artificial

{{00:03:39}}
intelligence in exactly the same way.

{{00:03:41}}
They talk about it,
but it's not much done.

{{00:03:44}}
And I think being data driven
really means using the data to

{{00:03:50}}
create facts that are insightful
and actionable for the business.

{{00:03:54}}
And too often data goes into a
big data tank, and just becomes

{{00:04:00}}
a sludge that it's very difficult
to get insights out of that.

{{00:04:04}}
And then for those insights
to be understood, believed,

{{00:04:08}}
and acted on in the business.

{{00:04:09}}
I think a lot of companies at
the moment are data restricted

{{00:04:14}}
because of those reasons.

{{00:04:15}}
How should companies become data-driven?

{{00:04:18}}
I think most companies will think
of themselves somewhere along the

{{00:04:21}}
data-driven process already, albeit
many will be at the the very early

{{00:04:28}}
stages and not making much progress.

{{00:04:31}}
The trick is always to focus
on the achievable, start

{{00:04:36}}
simple, and evolve from there.

{{00:04:38}}
If you try and do everything all at
once, if you try and overload the data

{{00:04:42}}
sources, you won't get anywhere because
it will just be a decade's worth of

{{00:04:46}}
effort to try and get and use the data.

{{00:04:49}}
So start with usable, available data.

{{00:04:54}}
Make sure it's clean and get
some stories out of that.

{{00:04:58}}
Get the insight that drives the stories.

{{00:05:00}}
Get the company to buy into the stories,
and first of all, support what the company

{{00:05:05}}
believes it's trying to do already.

{{00:05:07}}
So helping people deliver their KPIs, even
if it means the chief exec gets his bonus

{{00:05:13}}
this year, what is it that's driving the
business towards him getting his bonus?

{{00:05:17}}
He will become a champion, that will
filter down through department heads

{{00:05:22}}
delivering insight and a belief that
the insight can deliver the business.

{{00:05:26}}
Then you can expand out and start to
deliver more insight to more people.

{{00:05:32}}
So how will the use of data
change over the next 10 years?

{{00:05:37}}
I think a big part will be that data
will become more easy to use as cleansing

{{00:05:45}}
tools improve, and as collation of
data becomes more readily available.

{{00:05:51}}
That will drive step number one.

{{00:05:54}}
Step two, there will be better analytics
tools, whether they are self-drive tools

{{00:06:01}}
like chat G P T that will surface insight.

{{00:06:04}}
Or whether it's the business,
having data scientists using tools

{{00:06:08}}
that will surface the insight.

{{00:06:09}}
And thirdly, I think companies will become
better at presenting that insight within

{{00:06:16}}
the organisation to make it more usable.

{{00:06:19}}
I think where we are with many of
the reporting tools, the BI tools,

{{00:06:23}}
is that they're a bit stuck in the
last 10 years of where that sort of

{{00:06:28}}
insight presentation has come from.

{{00:06:30}}
They're still not good enough at helping
clients to see what's actually in the

{{00:06:35}}
data rather than creating lots of charts
and graphs and data visualisations

{{00:06:42}}
that people then need to interpret.

{{00:06:44}}
If the machines start to do more of
the interpreting, again, we loop back

{{00:06:48}}
to the generative language models like
chat, G P T, they may be the things that

{{00:06:54}}
actually turn the, the insight usage,
very much more into information that

{{00:07:01}}
people across the business can understand.

I run an independent consultancy,
Alington Consulting, which helps

companies improve their voice of
customer feedback and the text analytics

So, what does it mean for
companies to be data driven?

In essence, it means collecting
data from a variety of sources.

It can be customer feedback, it can be
transaction data about customers and the

products they use and by the interactions
they have, and analyzing that data in such

a way that it provides useful insight to
the business to be able to change things.

It's not about just information
for information's sake.

I think the most important thing
to be data driven as a company

The people involved and the departments
and the networks within the business

need to be receptive to using data
and insight, to make those changes.

Too often data is either mistrusted,
or it might be wrong, or it's

difficult to analyze and extract
the insight that changes can be

The advantages of being data driven
are that you make decisions based on

There's a famous quote, so famous, I can't
remember who said it, but they said, "In

God, we trust all others must bring data."

You need the data in order
to make informed decisions,

And so being data driven is all
about collecting the data that will

enable the company to make better
decisions, to make better improvements

It's, it's a pretty
simple equation, really.

The challenges in many
respects are twofold.

One is getting the data in the first
place, and the second is making sure

the data is usable and in usable
I mean, is it accurate enough?

That's the biggest hurdle, number
one, making the data clean and usable.

The second biggest hurdle is
how do you extract the data?

And who's doing that analysis of
the data with those tools to provide

And actionable is simply, is
it useful and can we use it?

So those two things together
should drive and can drive

Is it better to be data
driven or data informed?

So you have to be data informed, data
aware, data willing, I suppose, in

You have to accept that there
is data that's useful that will

So you need to know what that data is,
how are we gonna get it and manage it.

And then you can drive a
business using that insight.

Where do companies say that they're
data driven and where that's perhaps not

really happening within the organisation?

I, I think virtually every
company is guilty of that.

It's very much one of the, the
glib phrases that people overuse.

They probably link things like
big data, and using artificial

They talk about it,
but it's not much done.

And I think being data driven
really means using the data to

create facts that are insightful
and actionable for the business.

And too often data goes into a
big data tank, and just becomes

a sludge that it's very difficult
to get insights out of that.

And then for those insights
to be understood, believed,

I think a lot of companies at
the moment are data restricted

I think most companies will think
of themselves somewhere along the

data-driven process already, albeit
many will be at the the very early

The trick is always to focus
on the achievable, start

If you try and do everything all at
once, if you try and overload the data

sources, you won't get anywhere because
it will just be a decade's worth of

Make sure it's clean and get
some stories out of that.

Get the company to buy into the stories,
and first of all, support what the company

So helping people deliver their KPIs, even
if it means the chief exec gets his bonus

this year, what is it that's driving the
business towards him getting his bonus?

He will become a champion, that will
filter down through department heads

delivering insight and a belief that
the insight can deliver the business.

Then you can expand out and start to
deliver more insight to more people.

So how will the use of data
change over the next 10 years?

I think a big part will be that data
will become more easy to use as cleansing

tools improve, and as collation of
data becomes more readily available.

Step two, there will be better analytics
tools, whether they are self-drive tools

like chat G P T that will surface insight.

Or whether it's the business,
having data scientists using tools

And thirdly, I think companies will become
better at presenting that insight within

I think where we are with many of
the reporting tools, the BI tools,

is that they're a bit stuck in the
last 10 years of where that sort of

They're still not good enough at helping
clients to see what's actually in the

data rather than creating lots of charts
and graphs and data visualisations

If the machines start to do more of
the interpreting, again, we loop back

to the generative language models like
chat, G P T, they may be the things that

Explainer

Too often the term 'data-driven' is used in business without actual know-how or methodology applied behind it. We sat down with Piers Alington from Alington Consulting, to find out how to become a truly 'data-driven organisation' and what benefits you can unlock in the process.

Data

Data management

Data visualization

Data Transformation

Digital Data

Data & Analytics

Technology Data analytics

Data Cleaning

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Piers Alington

Founder and Consultant

Alington discusses gathering data from across your business, from customer feedback to transaction data and uses the examples to define what it means to be data-driven. 


Defining data-driven

Is it actionable? Can you use it? Piers asks these two questions when exploring the pros and cons of being data-driven.


The advantages and challenges of being data-driven

Most companies are already somewhere along the road to becoming data-driven. Alington provides steps for organisations to truly become data-driven.


How to become data-driven

How will the use of data improve over the next 10 years whilst AI continues to flourish? Alington shares his insight into what the future may hold.