How to implement data-driven organization – Alex Suh
Achievement # 1: Creating a data team as a key decision maker
The organization’s data team’s role is not a department which just provides ‘support in decision making’ or ‘to just deliver data’. The department defines itself as ‘core decision makers’. The difference in this position makes a tremendous difference in work, it means that the output we produce is not just an intermediate piece for another team, but an end-result that weight the same weight as other teams are making in important decisions throughout the organization.
For a data team to become a key decision-maker, few things must be processed but mainly data team should know how to setup a question to itself and read the organization (strategy/planning/marketing, etc.)’s request for data analysis rather than following requests.
But for such system to be possible, data team must have a deep understanding of the organization’s analysis request work situation. In other words, the analysis team must accurately identify what the team is trying to do and clearly design what the answer will be. So, the system will not be a simple asking request giving feedback relationship but as a debating partner to solve curious issues or questions together.
The data team should attend all major meetings such as strategy meeting, marketing planning, review meeting, etc. and should be well informed. When a product/service is to be released as being developed, the team should set up methods to see how it works and a new data is acquired when analysis is impossible with currently possessed data. As the function gets release, same time its analytic report is available. This allow planners to monitor their work process from early stage and carry out rest of its plan. It goes same with marketing team as well.
By reading the organization’s request for analysis, the data team has much more advantage in terms of obtaining the data required for analysis or in terms of saving time.
Achievement # 2: Data team to become ‘profit centre’ instead of ‘cost centre’
The organization’s data team should be able to save company’s spending cost and furthermore able to search and success to create a new revenue by data. The use of data analytics allows organisations to gain a single view of a supplier, so for example the ability to view spend engagement or any historical financial commitments. The process will also enable to save huge amount of marketing cost. In conclusion, data team will be able to secure additional period for the company to withstand through funding until the next funding. Data team will also contribute in process of maintaining or expanding additional source income such as advertisement and others.
There are several implications for data teams to generate an independent revenue.
Company had successfully capitalized/assetized its owned data
All companies have their unique data which is possible to assetize. This is a not a game of which it exists or not but rather a game if it can be find or not.
Possess refined and organized data which can be sold
This means that the technology to manage, process and manipulate source data is stable within the team.
Achievement # 3: Small but powerful team
The result-oriented data team helps organizations to achieve great deeds.
Of course, to do so there are few steps which must be done.
Automated or systemized.
Construct a system which tends to require less human contact as possible. It has become a habit to think first about what can be done with a machine, whether it is an analysis or an infrastructure. Juniors also tend to think about this machine-first process.
A lot of communication, but efficient
Conduct daily, weekly, monthly basis report and communicate with leaders before and after the work. In a short period of time, the team should check work’s direction and quickly get rid of unnecessary works to avoid false direction.
Feedback and compensation
Providing all necessary compensation for the team’s effort is important. Teams will grow by understanding these 2 phrases ‘There is always a return on what you have done’, ‘grow as much as by working’.