ZOLLHOF Know-How Event You track too much and learn too little
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You track too much and still learn too little! We're drowning in our generations new oil: Data! We’re trying to “make” everything AI. We’re always trying to make more in lesser time. But honestly nothing really moves the needle! Every company wants to be data-driven - data-informed. Companies invest millions into analytics and business intelligence solutions - But still most activities are more guess work then actually bound by knowledge! Let’s discuss how analytics and BI can help your company gain a mindset of data, creativity, and curiosity! What we’ll look into: How do you concentrate upon what matters? Why do we still make huge mistakes? Why and how do OKRs matter? Your take away: Less metrics are better Create an insights wiki / Weekly Insights Newsletter Enforce water-cooler debate Speaker At Day Philipp is a Data Guy: a Marketeer, Designer, Developer, and Data Nerd. At night he becomes Father of two. He's worked at Rocket Internet, Project A and Germantech Digital where his personal goal always was to break up data silos to create a customer-centric environment and establish a culture of experimentation!
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ZOLLHOF Know-How Event You track too much and learn too little
- 1. YOU TRACKTOO MU Das Bild kann nicht angezeigt werden. CH AND LEARN TOO LITTLE Philipp Freytag von Loringhoven
- 2. DATA OIL! Photo by Zbynek Burival on Unsplash
- 3. OLD
- 4. Missed 3 ZEROs 2018: 33 Zettabytes 1 2025: 175 Zettabytes 1 1 https://de.statista.com/statistik/daten/studie/267974/umfrage/prognose-zum-weltweit-generierten-datenvolumen/
- 5. WHY I STAND HERE SIX little REASONS Father of 2 01 Cook 02 Gamer 03 Developer04 Marketeer05 Data Geek06
- 7. Welcome to the hotpot
- 8. Everywhere Data „In God We Trust, All Others Must Bring Data!“ W. Edwards Deming
- 9. Consultant medicine Make the pain go away Magic „BIG“ DATA Photo by JOSHUA COLEMAN on Unsplash
- 10. BUT! You: We want to rule with AI Me: AI „tech“ is a commodity! Data has all the power
- 11. Challenges „If You Do Not Know How To Ask The Right Question, You Discover Nothing!“ W. Edwards Deming
- 12. 53% Of Companies Are Adopting Big Data Analytics1 1http://dresneradvisory.com/ Photo by Randy Fath on Unsplash
- 13. 60% Of BI / analytics projects fail…1 1https://www.gartner.com/en
- 14. We‘ve got the longest Just track all the cookies!
- 15. Information OverloadKPIs How can 100 Key Performance Indicators be useful?
- 16. You Measure Vanity VAN ITY Likes, Shares and Views don’t pay the bills
- 17. Only 0.5% of Data is analyzed and used.1 1 https://www.technologyreview.com/s/530371/big-data-creating-the-power-to-move-heaven-and-earth/
- 18. When less is more DES IGN
- 19. The rise of the information siloSILO Website BackendAPP JS Based Tracking A/B Testing Controlling Mobile Tracking Marketing Product C-Level Product
- 20. When the investor asksPAIN Marketing Investor C-Level Product Whats your CLV? 24€ 32,70€ 51,30€ Kidd‘n me?
- 21. Food 4 Thought Data “Welcome to The Information Age. Data, Data Everywhere, But Nobody Knows a Thing!” Roger Kimbal
- 22. Is there hope?
- 23. Yes LISTEN and THINK! Photo by Chase Clark on Unsplash
- 25. RECENCY Freshness How uptodate is the data? Stale Data becomes stale –It loses the power to predict change Photo by AbsolutVision on Unsplash
- 26. FREQUENCY Reliability Trends only appear in frequent Data Signal If something happens once it’s noise Photo by Sonja Langford on Unsplash
- 27. CONNECTION Proximity How “close” / connected is your data? Related How good can your data be connected to the “real” world? Your market? Photo by John Barkiple on Unsplash
- 28. INTEGRITY Trust Is there trust within your data? Validation Is your data validated? Do you have sanity checks in place? Photo by marcos mayer on Unsplash
- 29. Data != Information Data = ingredients Information is valuable! Photo by Element5 Digital on Unsplash
- 30. DATA Needs Refinement to become valuable! REFI NEM ENT Data Action Information Knowledge
- 31. Food 4 Thought REMEMBER “You can have data without information, but you cannot have information without data.” Daniel Keys Moran Photo by Roman Kraft on Unsplash
- 32. Data Driven „The greatest value of a picture is when it forces us to notice what we never expected to see.” John Tukey Photo by David Travis on Unsplash
- 33. Food 4 Thought MANAGEMENT Only what gets measured, gets managed Peter Drucker Photo by Samuel Zeller on Unsplash
- 35. LEADERSHIP Bad H.I.P.P.O. Give clear answers! User Data. Each Day is Day 1 Question everything! Especially your gut! Photo by Brooke Lark on Unsplash
- 36. LIQUIDITY Share Not kept knowledge is power, but shared Free Data can be exchanged easily Photo by Matt Hardy on Unsplash
- 37. USAGE Tool independence Don’t lock your thinking “into” a tool Not data alone If data is King - Context is Queen! Photo by Toa Heftiba on Unsplash
- 38. ACCESS Trust Is there trust within your data? Question How are your reports used? Do you need them all? Photo by Filip Kominik on Unsplash
- 39. From Data to Action „The value of an idea lies in the using of it.” Thomas A. Edison
- 40. Create your Data is the long play Data Vision Objectives Key Results
- 41. So how do we find what to track? MET RICS KPI Tree KPI Priority Matrix
- 42. Great bandKISS You must like to K.I.S.S. your metrics and dimensions! Wikipedia Image by Llann Wé²
- 43. OKRs GUIDES Objectives Key Results What do we need to know?
- 44. Where are you heading?N.S.M. The North Star Metric is the single metric that best captures the core value that your product delivers to customers. Photo by Caleb Woods on Unsplash
- 45. Don‘t overdo it Metrics need friends! 7 Metrics MAX!
- 46. Food 4 Thought Data II “Not everything that can be counted counts, and not everything that counts can be counted.” Albert Einstein Photo by 𝚂𝚂𝚒𝚒𝚘𝚘𝚛𝚛𝚊𝚊 𝙿𝙿𝚑𝚑𝚘𝚘𝚝𝚝𝚘𝚘𝚐𝚐𝚛𝚛𝚊𝚊𝚙𝚙𝚑𝚑𝚢𝚢 on Unsplash
- 47. Sharing is caring! „Once we know something, we find it hard to imagine what it was like not to know it.” Chip & Dan Heath
- 48. The power of the water-coolerTALK Let people talk! Enforce the exchange of ideas! Let them Test! Photo by Kaitlyn Baker on Unsplash
- 49. Stand togetherLOOK Actively enforce knwoledge! Hold weekly Townhall Meetings & present your NSM and a befriended KPI Photo by Stephen Dawson on Unsplash
- 50. Stand together WRIT E Invest into a company Wiki or Insights Newsletter accross all Orgs Photo by Álvaro Serrano on Unsplash
- 51. Culture is key to using data - a Dashboard isn't the solution!
- 52. THAT´S ALL THANK YOU Philipp.loringhoven@towa.at www.towa.at Photo by Ken Treloar on Unsplash