There’s a lot of data floating all around us and businesses are calling themselves data driven.
But I want to ask you a couple of questions. First, what are you really doing to harness the true power of data? Second, how are you turning that data into a strategic asset for your business?
Here’s a very uncommon, yet very effective way to come up with an answer: Adopt a “product-oriented” mindset.
Yes! Instead of thinking about data as some ethereal specter hovering around, give it a form and start treating data like a tangible asset that, just like any product, can be managed, packaged, and delivered with effectiveness to create value for your business & stakeholders.
Begin by asking the right questions:
“How can we manage the quality of our data to make it accurate, accessible, relevant, and most importantly, reliable for our users?”
“Is there a way we can organize, structure, and package the data so different users can use it for different purposes without any extra complications?”
“What can we do to address the business and stakeholders’ pain points while delivering optimum value?”
“How can we ensure data is consistently up to date to keep pace with the evolving business?”
Once you answer these questions, you can start treating data as a product to maximize its value and utilization and even strengthen your business’s data culture in the process. Looking at data through the product lens unlocks its full potential and makes it a thoughtful part of your business strategy. This will give you a competitive advantage in today’s rapidly evolving business landscape, leveraging the power of analytics and visualization tools to drive innovation, make improved decisions, and ultimately deliver high-quality value to your end users.
It’s not as hard as you might think. It’s simply a matter of initiating a shift the mindset.