Ep 27 | Data Activation: Turning Data into Action with Steen Rasmussen, Founder & Director at IIH Nordic
In Episode 27 of Driven by Data: The Podcast, Kyle Winterbottom is joined by Steen Rasmussen, Founder & Director at IIH Nordic, where they discuss how to activate data to drive business value, which includes:
- How he ended up as a keynote speaker in Silicon Valley
- Why dashboards don’t facilitate action
- How data activation correlates action and the bottom line
- Why reporting has become an alibi in analytics
- How many organisations calculate costs to the point of insight but fail to factor in the cost of change
- Why we often underestimate the value lifecycle in analytics
- How and why we should calculate the cost of inaction
- Why customer lifetime value is one of the key metrics in business
- The importance of focusing on margins and not just value
- Why we are obsessed with revenue and not profit
- The importance of understanding the end to end cost structure to sell your products
- Why marketing agencies can’t add value to the bottom line, only the top line
- Why the notion of “sell more to earn more” is a fallacy
- Data isn’t the new oil because it doesn’t retain value, it’s more like meat because it spoils
- What companies need is a data-driven business developer but what they often hire is a “number accountant”
