You’re not data driven.
You think you are but here is why that’s not true.
Being data-driven is all about understanding the story your data is telling you, and to be bold enough to make decisions based on that story.
Some organizations and management teams are completely obsessed with the idea of being data-driven but unable to make the transformation in reality. After meeting a bunch of customers facing this challenge throughout My Telescope’s journey, two typical types of organizations have emerged from the fog. The “half-blind organization” and the “crippled organization”.
As a former financial analyst, I learned that data can describe your current situation quite accurately, but you have to be careful not relying on one data type only. The typical stock market analysis is all too often based on fundamental economic data and nothing else, but lacking insights derived from behavioral- and emotional data and patterns. These analyses are one-dimensional and run the risk of being far from reality as many variables get blurred or left out in the periphery.
In order to have your data telling a true story and not a fairytale, half-blind organizations have to accept the fact that deriving wisdom from a combination of relevant data types instead of just one is a must. Unfortunately, this realization often results in “data fatigue” leaving key decision-makers unable to make fact-based decisions. Instead, they dodge this bullet by initiating- and delegating new projects to handle organizational data more effectively in the future. Rest assured, a tidal wave of data builds up its momentum as I’m writing this article and will flush away anyone who chooses to turn a blind eye to reality.
The crippled organization understands the value of having the full picture but has put their entire trust in consultancies and market research firms to push their wheelchair so to speak. These organizations are avoiding living in a fairytale but as you very well know, there are several versions of the truth and people are not known to be objective. All humans include values and beliefs when we analyze whether we want it or not.
This solution works in the short run but is not sustainable over time as consultants are both very expensive and will inevitably be exchanged over time. As more and more consultants fight to push these golden wheelchairs, they will eventually lose their grip and the wheelchairs will run off by themselves and fall from a cliff or the like with deadly output.
If you have this uncanny feeling in your gut telling you I might be one of the examples above, don’t freak out, because you are neither half-blind nor crippled. You can easily take control of your data. There are already AI-trained machines that collect and wash information from countless data sources with the goal of providing you with answers to your most daunting questions. The cherry on the top is that the answers are 99.99% objective. Use them and take off your glasses, stand up from your wheelchair and take control of your destiny, but above all, take control of your data.
My Telescope is one of these machines and makes the job faster and cheaper than any human consultant has ever managed. I dare you to start relying on data and making fact-based decisions instead of just following your gut feeling.
If you disagree, we are happy to accept the challenge.
/Rodrigo - try us for free