In the age of data-driven enterprises, many organizations are drowning in their data. But being data-driven may not be all that it is cracked up to be. What are the symptoms of being data-driven? Is there a better way?
In this inaugural episode of The Insights Factory, Host Ian Cook sits down with his fellow leaders at Seek, Founder and CEO Erik Mitchell, and Industry Principal for Retail and CPG, Sean Cline. They discuss the importance of insights, what they are and how they drive businesses forward. They share case studies across retail verticals to demonstrate, not only what differentiates an insight from mere data, but also the tangible ways retail leaders can use insights to impact the bottom line.
Key Quotes:
“You have the ability to not only see the information, but then tell the story around it. I think systems and tools and insight functions need to be able to do that, be able to tell that story and an insight does that.” – Sean Cline
“The difference between, let's say a dashboard and or a report and an insight, is the report's going to tell you that you lost people. An insight is gonna tell you why, and it's gonna tell you, now what do I do?” – Erik Mitchell
“I always like to think about somebody who's a master craftsman at something. Whether that's creating things out of wood or distilling whiskey and bourbon, things like that. These companies are all masters at their individual craft, but, their craft is not analytics.” – Erik Mitchell
“There are constraints and rules around how that data's presented as well. It's a challenge and to automate that function, or systemize that function, if you will, is key to having success in this speed to insight type conversation.” – Sean Cline
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Show Timestamps:
(00:33) Episode backstory
(02:23) Erik and Sean’s comments on the backstory
(6:51) What is a challenger brand?
(7:11) What is an insight?
(10:48) Erik and Sean’s experience finding insights
(17:30) The data supply chain and the last mile of analytics
(21:26) Hurricane data example
(24:24) Product weight and shopper demographic example
(26:17) Can you scale insights across companies?
(29:25) Advice for business leaders starting to look for insights
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Sponsor:
This podcast is proudly sponsored by Seek, the leader in cloud-based creation and delivery of industry-focused insights.
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Links:
Connect with Host, Ian Cook, on LinkedIn
Connect with Erik Mitchell on LinkedIn
Connect with Sean Cline on LinkedIn
Follow Seek on LinkedIn
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