By Kulwinder Singh
Chief Marketing Officer
Good morning, everyone,
Over the past two decades, whenever I have engaged with my clients, I have observed that they each had their own distinctive problem statements. They had unique issues and challenges to deal with, with respect to their data strategy. However, I found that at the core of all these challenges and struggles, there was a common yet significant question: how to build a successful data strategy? While many Data Analytics (DA) evangelists have pondered over this and offered solutions, I happened to find my own “eureka moment” while watching a game of soccer and sipping hot coffee one fine evening. It was incredible how the answers began unfolding before me, in the midst of that thrilling soccer game. Let me unveil this revelation to you by breaking it down into fundamental strategies, which a team might employ to win a game.
Data Defense Strategy
In a soccer game, the team with the best defense often emerges as the winner, even though the goal is to score more goals. In the same way, in the world of enterprise data management, having a robust data defense strategy is crucial. Such a strategy warrants the availability of high-quality, consistent, and complete data within the organization. Just as a good defense prevents conceding goals to the opponents, a strong data defense strategy protects the enterprise against potential risks and vulnerabilities.
An efficient, well-structured, and well protected data ecosystem helps businesses achieve their goals and drive growth of the company.
A key attribute of the data democratization strategy can be seen in a soccer game. The defenders of a team not only defend their goal post, they also snatch the ball away from the opposition team, make a few key passes to each other, before finally passing the ball on to the forward players; all these coherent moves culminate into a goal for the team.
Similarly, in the case of an enterprise, a winning data strategy would mean granting democratic access to data to the stakeholders across all the business functions and units. Many organizations follow a siloed system, where different business units operate at a different level, and there is a lack of effective communication between them. Data democratization can help enterprises avoid that. For example, allowing access to sales data to an operations manager at a manufacturing site can lead to a quicker reaction to the changing market dynamics.
This inclusivity allows people from various business units to be well informed and collaborative toward achieving the goal, which the entire business is trying to achieve. In other words, the data democratization strategy grants an opportunity to everyone within the organization to contribute toward enterprise goals.
In soccer, it is crucial to set the foundation of a move to ensure that a winning goal is achieved. Once that is done, the offense players start focusing on how to convert that strategy into a goal. Similarly, for an enterprise, it is imperative to set a strategy that is customer centric and employs innovative solutions. Following that, the offense team of the enterprise, which may include sales and marketing, can subsequently focus on executing that strategy.
Customer centricity allows an enterprise to better align its offerings with customer needs and drive customer satisfaction. It then leads to customer retention, which can enable an enterprise to have more revenue per customer (LTV). Emphasis on innovation will allow the offense team to offer distinguished products and services, which will attract more customers and drive revenue growth, and the enterprise can win more market share. Thus, with customer centricity and innovative solutions, an enterprise can beat its competition.
While the game of soccer is played within a confined space, a 77,000 sq. ft. field, there are other important factors outside that field, which serve as key differentiators between the winning and the losing team. These outside elements include the coach or the manager of the team, the support staff, and the fans. Their inputs – strategic or moral – are important facilitators of the winning team’s performance. Support from the fans and guidance from the coach play a significant role in the success of a winning team.
In the context of an enterprise, imagine these external factors as market intelligence, customer intelligence, and competitive intelligence. Imagine what an enterprise could achieve, which is already equipped with huge internal democratized data that also has access to external insights. Decision-makers will have a 360-degree view of the whole situation, and therefore can hit that winning goal effortlessly.
Now that the secret for success is out in the open, there remains the need for the right team captain to lead the run of the play to victory. We can help you build your data strategies as outlined above and provide you with all the external intelligence required to make more informed decisions. We are here to assist you in your pursuit of that winning goal!
By Kulwinder Singh
Chief Marketing Officer
Good morning, everyone,
Over the past two decades, whenever I have engaged with my clients, I have observed that they each had their own distinctive problem statements. They had unique issues and challenges to deal with, with respect to their data strategy. However, I found that at the core of all these challenges and struggles, there was a common yet significant question: how to build a successful data strategy? While many Data Analytics (DA) evangelists have pondered over this and offered solutions, I happened to find my own “eureka moment” while watching a game of soccer and sipping hot coffee one fine evening. It was incredible how the answers began unfolding before me, in the midst of that thrilling soccer game. Let me unveil this revelation to you by breaking it down into fundamental strategies, which a team might employ to win a game.
Data Defense Strategy
In a soccer game, the team with the best defense often emerges as the winner, even though the goal is to score more goals. In the same way, in the world of enterprise data management, having a robust data defense strategy is crucial. Such a strategy warrants the availability of high-quality, consistent, and complete data within the organization. Just as a good defense prevents conceding goals to the opponents, a strong data defense strategy protects the enterprise against potential risks and vulnerabilities.
An efficient, well-structured, and well protected data ecosystem helps businesses achieve their goals and drive growth of the company.
A key attribute of the data democratization strategy can be seen in a soccer game. The defenders of a team not only defend their goal post, they also snatch the ball away from the opposition team, make a few key passes to each other, before finally passing the ball on to the forward players; all these coherent moves culminate into a goal for the team.
Similarly, in the case of an enterprise, a winning data strategy would mean granting democratic access to data to the stakeholders across all the business functions and units. Many organizations follow a siloed system, where different business units operate at a different level, and there is a lack of effective communication between them. Data democratization can help enterprises avoid that. For example, allowing access to sales data to an operations manager at a manufacturing site can lead to a quicker reaction to the changing market dynamics.
This inclusivity allows people from various business units to be well informed and collaborative toward achieving the goal, which the entire business is trying to achieve. In other words, the data democratization strategy grants an opportunity to everyone within the organization to contribute toward enterprise goals.
In soccer, it is crucial to set the foundation of a move to ensure that a winning goal is achieved. Once that is done, the offense players start focusing on how to convert that strategy into a goal. Similarly, for an enterprise, it is imperative to set a strategy that is customer centric and employs innovative solutions. Following that, the offense team of the enterprise, which may include sales and marketing, can subsequently focus on executing that strategy.
Customer centricity allows an enterprise to better align its offerings with customer needs and drive customer satisfaction. It then leads to customer retention, which can enable an enterprise to have more revenue per customer (LTV). Emphasis on innovation will allow the offense team to offer distinguished products and services, which will attract more customers and drive revenue growth, and the enterprise can win more market share. Thus, with customer centricity and innovative solutions, an enterprise can beat its competition.
While the game of soccer is played within a confined space, a 77,000 sq. ft. field, there are other important factors outside that field, which serve as key differentiators between the winning and the losing team. These outside elements include the coach or the manager of the team, the support staff, and the fans. Their inputs – strategic or moral – are important facilitators of the winning team’s performance. Support from the fans and guidance from the coach play a significant role in the success of a winning team.
In the context of an enterprise, imagine these external factors as market intelligence, customer intelligence, and competitive intelligence. Imagine what an enterprise could achieve, which is already equipped with huge internal democratized data that also has access to external insights. Decision-makers will have a 360-degree view of the whole situation, and therefore can hit that winning goal effortlessly.
Now that the secret for success is out in the open, there remains the need for the right team captain to lead the run of the play to victory. We can help you build your data strategies as outlined above and provide you with all the external intelligence required to make more informed decisions. We are here to assist you in your pursuit of that winning goal!
