Discover the CEO data checklist – the top 3 “to dos” in data when embarking on a new CEO role.
In order to succeed a CEO should be operationally, strategically and analytically focused. Without data, it is difficult to have a clear understanding and oversee the day to day operations of the business. Furthermore, making informed strategic decisions and analyzing past performance without data is near impossible.
There are multiple steps to take to build a data driven culture, but it starts from the top – including the CFO and CTO.
The CEO Data Checklist
1. Systems
When starting a new role as CEO, it’s important to evaluate the data stack and systems that are in place. With the appropriate systems in place, operations and reporting are efficient. In order to create a data driven environment, it’s vital that a modern data analytics stack is in place. This includes a cloud data warehouse, to build a single source of truth and prevent data silos. A BI tool to create reports and dashboards enables visualization of your data, which can be used by all departments to answer business questions. However, in order to bring all of your data from various sources into your cloud data warehouse, an ELT tool is necessary.
With the right systems in place, you can gain a view of the past, present and future of your business. Use that data to drive insight and grow. This is where Kleene can help – automating your data pipelines to create your single source of truth.
2. People
People are integral to driving a data driven culture. Your team needs to be analytically minded so that they can find patterns and trends in data, uncover insights and have the capacity to forecast. Whether you’re joining a scale up without a data team or a well established business with an entire data function, it is important that everyone is analytically minded and business outcomes focussed. With the right team in place asking the right questions, using a modern data stack, you’ll soon see results.
3. Reporting
Without efficient and effective reporting in place, understanding the business, reviewing activity and determining the next best step is incredibly difficult. It’s not enough to use data operationally – analytical data usage is vital to scale a company and ensure continuous growth. Reporting can be a laborious task when data is siloed and the work is manual. With a data warehouse in place, you can bring all of your data together to fuel reports.
What’s next?
Spending time evaluating your systems, people and reporting will give you a view of where to prioritize and focus your resources. People, systems and knowledge are key to solving any data problems you may have.
Need some help? Contact us to find out how we have helped CEOs create a data driven environment and deliver value from their data.
