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Data Economy

Long before the pandemic, data has always been the solid ground for making decisions. Now, we can refer to it as “BP” (Before the Pandemic) and “AP” (After the Pandemic). These milestones will help us choose the best paths based on result projections, interfaces, and devices chosen for an improved user experience (UX). The first […]

Tomas Riquelme

23.07.20 Business 3 min
Business

Introduction

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# Agile Teams # Client-Team Trust # Data Dashboard # Data Economy # Data Interpretation # Data Quality # Data Visualization # Decision making # Team Collaboration

Long before the pandemic, data has always been the solid ground for making decisions. Now, we can refer to it as “BP” (Before the Pandemic) and “AP” (After the Pandemic). These milestones will help us choose the best paths based on result projections, interfaces, and devices chosen for an improved user experience (UX).

The first point to address in the context of the data economy is to go beyond a Data Studio, Power BI, or Google Sheet dashboard because we now understand that data without interpretation is merely a large panel of gathered information,tables, rows, and columns of data.

The first challenge is to give visual identity (data visualization) and a readable design to that data group, so reaching the initial inferences does not add difficulty to reading. What added value are we providing besides delivering the best CPA in the market? Are we giving the importance that the design of the displayed information deserves? The inferences made from that panel will undoubtedly become part of subsequent decision-making.

Certain business categories handle over 70 sets of sources, from the simplest to the most complex. However, it all depends on how we manage and qualify that information. The integration of each source in that dashboard is crucial; an error in a pixel or a cross of sources can lead to difficult-to-detect data deviations. All communication efforts must be connected, all touchpoints are equally important, and they ultimately come together to form a concrete decision.

The second significant milestone is the implementation of data visualization. Finally, we match concrete needs – both our own and the business’s – to interpret, infer, and decide.

Even though we do this more frequently now, decision-making in agile environments remains no less important.  That sacred moment, no longer confined to a marketing director’s solitude but entrusted to young and versatile teams, has shifted from lengthy in-person meetings to quick and spontaneous calls.

A point that should not be overlooked, and without which it is very challenging to achieve this value chain, is the trust between the client and the team. When the client knows – or feels, because that’s palpable – that there are no dividing lines with the agency, that both sides are pushing in the same direction and seeking the same purpose, that’s when decisions and structural changes can be executed without hesitation.
Good results, bad results? It depends on who is looking at them and the process they have been part of. Without such trust, quick fixes remain forgotten in keynotes and PowerPoint presentations that will never be opened by management or middle-level teams. Challenge overcome: trust for growth.

Therefore, we need to surround ourselves with modern and current business tools, as well as agile teams with decision-making abilities, where there is room for information reading as well as impetus for execution, all working towards the fulfillment of each of our clients’ business objectives. Using data for decision-making is crucial, but it is not enough: design, timing, and teamwork.  



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