Data used to be perceived primarily as a marketing tool; used mainly for tweaking and improving customer journeys. This has changed dramatically in recent years. The capture, analysis and exploitation of data is now fundamental to the performance of most businesses.
All business systems are awash with data – financial, HR, ERP, marketing and more. But not all businesses currently use this to its full effect.
With a deliberate, well-planned and executed data strategy, businesses can use their data to answer these key questions:
1. What sort of clients engage with the business?
2. What are those clients’ engagement and buying habits?
3. How can the entire business’ operating model and processes be tailored to improve this?
After answering these questions and building new processes and systems to fully take advantage of data-driven insights, acquisitive businesses can roll out the successful operating model to any other business entities they acquire.
From an M+A perspective, data-driven revenue streams often provide the highest-value multiples, and NXChair Martin Boddy believes that the opportunity is there for many businesses to create a ‘data proposition’ out of what they already do – be this developing analysis tools, offering industry insights or selling consulting services. Having ran a large data science business, Martin has seen the transition over the last 10-15 years from a people-oriented function to a more technologically driven one.
Rowan Executive Search is ahead of the curve in its adoption of data to drive our clients’ business growth.
Our ‘Leadership Dynamics’ suite of products affords us the ability to objectively analyse a leadership team, benchmark it against its industry peers and then show and deliver the necessary changes required to maximise that team’s effectiveness. Find out more about this service and contact us here -> https://rowangroup.uk.com/contact-us/
Watch the whole conversation on the usage of data between Martin and Rowan’s Johnathan Massey here -> https://rowangroup.uk.com/using-data-to-drive-and-create-value-in-a-growing-business/
