ARE YOU DATA-DRIVEN?

ANALYSIS OF ARTICLE BY THOMAS C.REDMAN

WHAT IS MEANT BY BEING
 Data driven is an adjective used to refer to a
process or activity that is spurred on by data, as
opposed to being driven by mere intuition or
personal experience.

In other words, the decision is made with hard empirical

evidence and not speculation or gut feel. The term is
used in many fields, but most commonly in the field of
technology and business.
 FACT:
Recent academic work from Andrew McAfee
and Erik Brynjolfsson of the MIT Sloan School
of Management shows that companies that
regard themselves as “data-driven” are
measurably more profitable than those that
aren’t.
TRAITS OF THE
DATA- DRIVEN
Make decisions at the lowest possible level

Bring as much diverse data to any

situation as they possibly can

Use data to develop a deeper

understanding of their worlds

Develop an appreciation for variation

 Deal reasonably well with uncertainty

Integrate their ability to understand data
and its implications with their intuitions

 Recognize the importance of high-quality

data and invest to make improvements

 Conduct good experiments and research

Recognize that decision criteria can vary with
circumstances

Realize that making a decision is only the first

step

Work hard to learn new skills and bring new data

and new data technologies (big data, predictive
analytics, metadata management, etc.) into their
organizations

Learn from their mistakes

TAKE A LONG, HARD LOOK IN THE MIRROR
AND DECIDE WHETHER YOU ARE DATA
DRIVEN OR NOT BASED ON THE TRAITS
LISTED EARLIER.
 RELEVANCE O A
MANAGER IN INDIA
Pushing decision making down frees
up senior time for the most important
decisions. And, lower-level people
spend more time and take greater
care when a decision falls to them.

It builds the right kinds of

organizational capabilities and,
appears to create a work environment
that is more fun.
Data-driven managers have an innate
sense that variation dominates.

While they may not use a graph or control

chart, they know that they have to
recognize that variation if they are going
to understand what is going on.
THE DATA-DRIVEN ARE CONSTANTLY RE-
EVALUATING AND REfiN-ING THEIR DECISIONS
ALONG THE WAY. THEY ARE QUICKER THAN
OTHERS TO PULL THE PLUG WHEN THE
EVIDENCE SUGGESTS THAT A DECISION IS
WRONG.

THE DATA-DRIVEN PLACE HIGH DEMANDS ON

THEIR DATA AND DATA SOURCES. THEY KNOW
THAT THEIR DECISIONS ARE NO BETTER THAN
THE DATA ON WHICH THEY ARE BASED, SO
THEY INVEST IN QUALITY DATA AND
CULTIVATE DATA SOURCES THEY CAN TRUST.
THANNK YOU!!
By: TARANG JAIN