There are three main ways that organizations use data and analytics in their organization:
- Enhancing customer / product experience
- Enhancing employee experience
- Increasing operational efficiencies
Individual data science efforts will often cross more than one of these areas.
Why I am writing this post is, I see organizations making decisions more often based on increasing operational efficiencies than enhancing customer / product or employee experience. The shiny object that never goes wrong on an earnings call is cutting costs. But, does it add to the long term value of your product, your organization, and your most valuable assets, your employees? Often the answer is a short-term yes but a long-term no.
Be a leader that delivers customer and employee value from the power of data and analytics first. Along the way some operational efficiencies will come along as part of your efforts.