Stakeholders have little or no faith in the accuracy of the numbers.
Seemingly trivial reports taking much much longer to generate.
There are multiple sources of truth for data and numbers don't match.
Prioritization is based on who screams the loudest.
Data becomes the bottleneck for decision making.
The data team is constantly talking about new features that never arrive.
Replacing manual ad hoc
analysis with highly scalable
systems for self service reporting.
Identifying the right architecture, vendors, best practices needed to build the data engine.
Companies don't have the expertise to interview or manage this talent.
The current barrier to entry
is $250k+ investment .
Companies today incorrectly focus on building recommendations and ML as they are getting started.
Building recommendations and ML without building a reporting foundation is like trying to build a skyscraper without digging up the ground to build a foundation.
The first step towards building a data-driven organization is adding visibility into what is actually happening in the business. This requires focusing on the first 4 layers of the pyramid.
According to Mckinsey data driven organizations are 23x better at acquiring customers, 6x better at retaining customers and 19x more likely to be profitable.