Scott Rigby, Consulting Manager APAC, Adobe Marketing Cloud - Linkedin, @rigbyscott
Napoleon Bonaparte once said ‘War is ninety percent information’. A large number of our customers are operating in highly competitive environments where having the information available to inform their decisions is vital to succeed. The war they’re fighting is not only to stay competitive and relevant, but also internally within their organisations in getting access to the information, analysing it and actioning it.
We know that organisations that use data and analytics to create competitive advantage are 2x more likely to outperform their peers*. However organisations today are being challenged on how to move from the traditional “gut-based” decision making culture to an evidence based one. Does this mean that organisations should make decisions only off the data? Absolutely not – the data should be used to support the decision makers, make predictions and even prescribe what the organisation should do.
Quite often organisations face resistance to this cultural change towards evidenced based practice. This can be attributed to lack of information on why the change is necessary, fear of the unknown, not having the right skills or having grown accustomed to doing things a certain way. Commonly we see a gap where companies want to become data-driven and who have invested heavily in their technology, but have failed to make a corresponding investment in their people, processes and culture to maximise this.
So where do you start?
Don’t start by throwing the baby out with the bathwater. Most organisations have some of the building blocks they need in place already and for some it can be a long process of crawling – walking – running, use baby steps to get you started. Start by devising a basic plan that outlines the goals of the business, the KPI metrics you will use to measure these and how these will be included in reporting across the business. Gain cross function stakeholder buy-in and circulate this to the wider team with clear communication on the intent.
Identify the teams that are using data to make decisions (usually they’re operating in silos) and start to promote how they’ve leveraged the data to drive monetised uplift and wins for the business.
Nominate individuals who are data advocates within the organisation to spread the word and evangelise the benefits and techniques they used to deliver their wins. Have them assist other teams to do the same and communicate, communicate, communicate!
In July, Adobe will be running our annual client event ‘Symposium’. I am thrilled this year to see we are running a track that zeroes in on the collective marketing organization and we will be delivering some definitive tools and frameworks businesses can use to become data driven. So please join us for this informative event if you are looking to transform your business.
* Source: Columbia Business School & NY American Marketing Association, 2012.