How to make data driven business decisions. Build your strategy based on customer and market data.

1. Data driven business decisions
Lisa Enckell
Hyper Island, Sep 11, 2017

3. Business decisions
🤔

4. What is “business decisions”?

5. Business decisions =
your strategy and tactics

6. What’s often driving business decisions?

7. What’s often driving business decisions?
HiPPO
Highest paid person’s opinion
Competitors
We follow what our competitors are doing
Short-term goals
We take short cuts that are costly in the long run

8. What should be driving
business decisions?

9. What should be driving business decisions?

10. What should be driving business decisions?
Big, unpredictable events
When something major happens in the world, we may need to act on it
User data and insights
How past, current and future users are behaving
The vision
Founder’s or leaders long-term vision of the organization
👉 👈

11. Build your
your strategy and tactics
based on customer and market data

12. How do we make
data driven business decisions?
🤔

13. 1. Track the right things
What actually drives the business Vanity metrics that makes us look good
(temporarily)

14. 2. Make data available for everyone
Dashboards with KPIs and trends Tools that allow teams to dig deeper

15. 3. Create an agile and open organization and culture
Celebrate both successes and learnings
share learnings and insights across teams
Let every decision be guided by data
Dare to test and try new things
as long as they can be measured

16. Data driven strategy

17. Case: Wrapp – pivot
From social gifting To rewards and loyalty

18. Data driven tactics

19. Case: Youple – messages

20. Case: VAssist – optimization

21. Data as a core business

22. Case: Clue

23. The big picture

24. The role of data is changing
Support function
“IT”
Core
“Tech”
Support function
Reports
Core
Machine learning

25. Levels of data driven decision-making
Reporting
we can act on past customer data
Automating
we use data to automate user experiences and communications
Predicting
we build algorithms to predict future patterns based on large amounts of data

26. Thank you!
$
Lisa Enckell, @enckelli, approach.world