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2022-08-24

Are you ready to become data driven?

2022-08-24
There is a lot of talk these days about becoming ”data driven”, but what does this really mean, which are the potential benefits and how to go about to do this?

These are questions that we intend to adress with this series of blog posts. We will also introduce our ”Redpill Linpro Data driven ready model” that will guide you through the process and provide valuable advice and an established approach to make your organisation able to benefit from a truly data based decision and analysis model. 

Data driven business

Loads of possibilities

The digitization of society has brought with it a lot of possibilities. One of these is access to loads of data from various hand held devices, sensors, apps and other tools available to make information digital. Many organisations has also become very good at collecting this data and make real use of it.

However, there are still many organisations and corporations that are still only starting to realize the potential of all the accessible data and what can be made of it if utilized in the right way. The successful organisations of the future will find a way to make use of data available, turn it into information to make truly informed decisions on future strategy or tactical moves to improve customer loyalty, marketing efficiency, profitability or whatever factor that will make the ultimate success of your organisation or company. 

The notion of being able to make use of available information and to make really well-informed business decision is called being data-driven. Basically this means that you make your day-to-day, tactical or strategical business decisions based on true data.

Imagine being able to provide your organisation with this ability, while your competitors are still left with hunches and best-guessing for the same decision making. No business leader would ever want to imagine being left behind this development or managing the ”other” organisation.

Creating an organisation that has the ability to be data-driven in small and larger decisions is therefore something that should be on every business leader agenda. 

Best-practices and pitfalls

To assist with your data-driven initiative, Redpill Linpro have created a model to help your organisation with every aspect of such an implementation. With our ”Data driven ready model”, we are able to assist where ever you and your organisation are in this process.

With support from the model, our consultants can help you with everything from defining your strategy to actual gathering and presentation of information from data that makes sense at a given moment or process within your organisation. With the support of modern tooling, based on Open Source technology and made available in a cloud or behind your firewall, we can work together with your organisation to understand what information they need in a specific situation.

Through this analysis, we can back-trace the data required, gather it from adequate sources (maybe both internal and external), refine it and present in the expected format. We can assist with specific steps of your initiative (maybe you have already made some progress and just want some expertise with a specific function) or guide you through the entire process.

We can train your own resources to deliver on the data-driven initiative or deliver a team that is able to take of the initiative on the behalf of your organisation. With the latter approach you will not have ot invest in recruitment and training of own resources, but rather focus on the benefits and business development opportunities that this initiative potentially brings. 

The ”Data driven ready model” has been created based on the experience of Redpill Linpro and our consultants from running several similar initiatives. This means that we have included best-practices and mistakes not to make from previous experiences in the model.

These are lessons learned from other projects that you would want to make sure to avoid, at the same time as the best-practices can help speed up the implementation process. 

Make your strategy successful

For those of you who are uncertain where in the process you are, we have also included a Data driven maturity analysis. With this tool we will help you analyse where you are today and what areas that might need further work to make your strategy successful. The analysis is based in the Data driven ready model and gives your organisation an instant view into where you are already doing enough and within which areas you need to do more or different things. The maturity analysis can also be used initially to high light your data driven journey and to prioritize activities in the right order for your initiative to be successful. 

More information

We will launch our Data driven ready model in a viral way by releasing a series of blog posts to introduce each step in the model, this is the first in this series. Below you will find a little ”sneak-peak” into the different steps of the model. Stay tuned in this forum for more information on how to assure Data driven readiness...

Data driven model

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Written by Fredrik Svensson