Filling-in your Data Strategy Gaps: 10 Reasons Why your Data-Driven Initiative will Fail and How to Get it Right the First Time
Think of the following as a (long-term, non-trivial) data roadmap for your company, to establish a data-driven company.
- Does the initiative answer a key business question?
- Please see this talk for definitions of business questions.
- Are there data gaps/integrity issues? Are you using the right (SQL/noSQL) database for the task?
- Not democratizing access to data
- No baselines for KPIs
- What's your customers' retention window? Engagement? (16 others)
- Not tracking positive and negative KPIs
- No testing environment for customer session understanding.
- Are you able to re-create and debug a customer's checkout session?
- No testing environment for product iteration
- Are you able to gradually roll-out the next version of your platform to customers?
- Missing framework for product A/B testing
- Are you able to compare performance of current and proposed (new) version release, as it rolls out to more and more customers?
- Do you have control and hold-out groups?
- No prioritization of initiatives. One prioritization approach is to evaluate each initiative based on all of the following:
- Expected payoff
- Timeline to deliverable
- Data availability
- Interconnectedness to (or dependencies on) other initiatives (Hilary Mason)
- Not including employees that work with data into key meetings
- (Bonus) What is you culture around (data-driven) product support?
Do you have comments or questions? Please contact me.
Keywords: Data strategy, customer understanding, data products, iterative development
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