Consider the statement: The strategies generated by data driven cultures are likely to produce sustainable competitive advantages. Data Driven Cultures Carl Anderson, 2015 (Data Scientist at Warby Parker) defines a data driven culture: Is continuously testing; Has a continuous improvement mindset; Is involved in predictive modeling and model improvement; Chooses among actions using a suite of weighted variables; Has a culture where decision makers take notice of key findings, trust them, and act upon them; Uses data to help inform and influence strategy. Strategy For the purposes of brevity, I’ll define a strategy as: An artifact; That enunciates choices selected from acknowledged tradeoffs; Which is rooted in a paradigm; That is actionable; With the intent of causing a sustainable competitive advantage in[…]
Category: Data Driven Culture
What is a data driven culture? Data Driven Cultures Carl Anderson, 2015 (Data Scientist at Warby Parker) describes a data driven culture as on that: Is continuously testing; Has a continuous improvement mindset; Is involved in predictive modeling and model improvement; Chooses among actions using a suite of weighted variables; Has a culture where decision makers take notice of key findings, trust them, and act upon them; Uses data to help inform and influence strategy. This is a fine summary and worthy of unpacking. The Big Why Data driven cultures are likely to produce better, sustained, performance over time than the alternatives. It’s not even worth considering the alternatives to a data driven culture. How do you know if a[…]