Diane spoke with David Bryan, a leader in data engineering and cybersecurity, about how to aggregate and utilize data to inform organizational strategy.
In today’s rapidly evolving business landscape, data is not just a byproduct of operations; it’s the cornerstone of strategic decision-making. Recently, I had an engaging discussion that underscored the pivotal role data plays in driving customer success and sales enablement within software companies. We dove into some of the key challenges organizations face with the organization and utilization of data.
The Challenge of Data Siloes
One of the biggest hurdles organizations face is the siloed nature of their data. As we spoke David and I recognized that many companies struggle to integrate data across departments. This hampers their ability to make informed decisions for the organization as a whole. This issue is particularly pronounced in customer success functions, where data-driven decisions are crucial for delivering effective programs.
The Importance of Data Aggregation
To break down these siloes, companies need to focus on data aggregation. By consolidating data into one accessible platform, organizations can extract valuable insights more efficiently. We discussed tools like GuestXM by Black Box Intelligence (BBI), which helps aggregate restaurant data to provide a comprehensive view for operational decision making. Aggregated data is not just about convenience; it’s about making the data actionable and strategic.
Metrics That Matter
Understanding which metrics to track is essential for any data-driven strategy. Utilization data, support call frequency, and customer engagement levels are just a few examples. Interestingly, support calls could indicate either a highly engaged customer or a highly dissatisfied one, depending on the context. Hence, interpreting these metrics accurately is crucial.
Quarterly Business Reviews (QBRs)
QBRs are a staple in high-dollar solutions to remind clients of the value being delivered. However, to make these reviews impactful, organizations need to back them up with solid value metrics. What do customers truly value? This is where data on customer utilization, system downtime, and other incidents come into play. These metrics not only help in demonstrating value but also in identifying areas for improvement.
Organizational Culture and Data Disclosure
Another critical aspect we touched upon is the role of organizational culture in data disclosure. For data to be genuinely effective, there needs to be a culture of transparency and psychological safety. Leaders play a pivotal role in fostering this environment. They need to be aware of what’s happening within their teams and be willing to act on the data disclosed. This kind of culture encourages employees to share insights and challenges openly, leading to more robust data collection and utilization.
Steps to Organizing Data
Organizing data is a multi-step process:
- Align your data needs with your organizational objectives and the risks you want to mitigate.
- Identify what data to keep.
- Develop, enact, and monitor the ongoing utilization of policies around data retention
- Understand how data will be used, accessed, and most importantly, protected.
Once the data is organized, it becomes easier to quantify and utilize effectively.
In Summary
Data is omnipresent in every organization, yet its true potential is realized only when it is strategically harnessed. By breaking down data siloes, focusing on key metrics, and fostering a culture of transparency, companies can transform data into a powerful tool for customer success and sales enablement.
If you’re interested in diving deeper into this topic, keep an eye on this blog. I will continue – through open and transparent conversations with professionals who are making a difference in the world – to share more insights and practical strategies for leveraging data in your organization.
People Risk Consulting (PRC) is a human capital risk management and change management consulting firm located in San Antonio, Texas. PRC helps leaders in service-focused industries mitigate people risk by conducting third-party people-centric risk analysis and employee needs assessments. PRC analyzes and uses this data alongside best practice to make strategic recommendations to address organizational problems related to change and employee risk. The firm walks alongside leaders to develop risk plans, change plans, and strategic plans to drive the human element of continuous improvement. PRC provides technical assistance, education, training, and trusted partner resources to aid with execution. PRC is a strategic partner of TriNet, Marsh McClennan Agency, Cloud Tech Gurus, Predictive Index, and Motivosity.