Ep 40 | Demonstrating Business Value & The Financial Impact with Jason Krantz, CEO/Founder at Strategy Titan
In Episode 40 of Driven by Data: The Podcast, Kyle Winterbottom is joined by Jason Krantz, CEO/Founder at Strategy Titan, where they discuss how to demonstrate the business value and financial impact of our Data & Analytics initiatives, which includes:Our job is to create clarity on how data can help the business reach its goalsWhy we need to find a balance between data literacy and business literacy The importance of business context Why its impossible to translate how D&A initiatives benefit the business without business literacy Push Versus Pull: why you’ve got to embrace the pull model Why you need to get out from behind your keyboard to set yourself apart We are in a battle of hearts of minds, not technology Why you should start by creating demand and how to do soThe importance of knowing how the score is kept and keeping score!How to quantify the financial benefits and/or business benefits before starting a project The importance of understanding the decision making culture within your organisation Why it reflects on you as a leader if change doesn’t occur The “cost” of data & analytics capabilities are simply table stakes to remain competitive Why we should calculate the financial value as opposed to ROI Why it’s on the organisation to gauge the financial value generatedWhy offensive initiatives are easier to quantify the financial value generated How to be in alignment with decision-makers that are acting on your recommendations to be able to claim added value