Are organisations genuinely committed to becoming data-driven?
One will find this question at the forefront of most data leaders’ minds as many of them have experienced situations where organisations talk about being data-driven but don’t follow through.
Three things to look for to determine if a company is truly committed are:
- Appetite
- Real Understanding
- Budget and Investment
Many CDOs have expressed frustration with companies that merely claim to be data-driven and then do not show it in their actions. They’ve encountered false promises, with companies claiming they’ll “do whatever it takes”, and often left disappointed as these companies often fall short when it’s time to deliver.
When the going gets tough, organisations sometimes back down or lose interest as the executives have not seen the results they were expecting despite significant investment. This leads to the question, why invest more and more if they do not even really believe in it?
This may be because, for many companies, the cost of not appearing data-driven is seen as more damaging than the costs of actual data initiatives. And this may lead to pressure to keep up appearances and remain “data-driven” to the public eye, as well as not being looked at as doing nothing, and appearing as though they have jumped onto the bandwagon of data culture, even if they don’t truly know what they’re doing.
It would be surprising to find a business today that doesn’t want to be “data-driven”. The difficulty? Figuring out which companies are totally on board the data journey and which of those are simply going along with the trend.
Sophie Muscat
Sophie is our Head of Marketing. She has a wealth of experience in marketing and communications, having driven strategic initiatives and managed direct communications.
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