Brands should start developing a data-driven culture right from the C-suite level to set an example

New Ideas in MarketingEssential news for marketers, summarised by YouGov
February 07, 2020, 1:02 AM UTC

Creating a data-driven culture can enhance employee skill-set and benefit them directly.

Cultivating a data-driven culture can help organisations satisfy their consumers and streamline operations. To create a data-driven culture, brands should start at the top level, with C-suite leaders demonstrating that their decisions are anchored in data.

Companies can further leverage the expertise from analytics teams and data scientists, to make their organisation more data-centric. The article recommends being careful and deliberate in deciding which metrics to choose. For example, predictive accuracy can help anticipate competitor’s price moves.

This article suggests anticipating uncertainties and teams must be “explicit” and “quantitative” about their level of uncertainty. Teams must become habitual about explaining their approaches towards the analytical choices they make to provide a deeper understanding of them.

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