Are You Data Driven - By Thomas C. Redman

1. ARE YOU DATA-DRIVEN
BY THOMAS C REDMAN

3. Recent academic work from Andrew McAfee
and Erik Brynjolfsson shows that companies
that regard themselves as “data-driven” are
measurably more profitable than those that
aren’t.

4. Companies in the top
third of their industry in
the use of data-driven
decision making were, on
average, 5% more
productive and 6% more
profitable than their
competitors” even after
accounting for several
confounding factors.

7. TRAITS OF DATA DRIVEN
COMPANY

8. 1. Make
decisions at the
lowest possible
level

9. 2. Bring as much
diverse data to any
situation as they
possibly can

10. 3. Use data to
develop a deeper
understanding of
their worlds

11. 4. Develop an
appreciation
for variation

12. 5. Deal
reasonably well
with uncertainty

13. 6. Integrate their
ability to understand
data and its
implications with their
intuitions

14. 7. Recognize the
importance of high-
quality data and
invest to make
improvements

15. 8. Conduct good
experiments and
research

16. 9. Recognize that
decision criteria
can vary with
circumstances

17. 10. Realize that
making a
decision is only
the first step

18. 11. Work hard to learn
new skills and bring
new data and new
data technologies

19. 12. Learn from
their mistakes

20. THANK YOU