How to….Build a Meaningful Data Practice Within Your Organization

In today's data-driven landscape, businesses that harness the power of data are positioned for success.? The ability to collect, analyze, and leverage data at scale has become a key differentiator to achieving sustainable growth and creating a competitive advantage.? Building a meaningful data practice is not just about collecting the data, but also about extracting, analyzing and translating data into tangible business outcomes.?

This week, I spoke with Coegi’s SVP of Operations and Analytics, Katie Kluba, to discuss the process of building a meaningful data practice within your organization. Just this year Katie was recognized as one of the the Top Women in Media and Tech by AdExchanger so she is a great resource on this subject and I especially appreciate how we were able to take a complicated process and boil it down to the fundamental steps that need to be taken to make an impact with data-driven marketing. Here is our conversation:

Sean: Katie, you’ve been the data guru for a lot of big organizations and brands - from leading teams at WPP and GroupM to building data-driven solutions with companies like Domino’s, Procter and Gamble, and Land Rover, you’ve seen firsthand the impact that data has on building business success. What are the key steps you’ve identified for building a successful data practice?

Katie: Thanks, Sean, and it’s a very good question you bring up. There is alot to consider when building out a successful data practice. But I think it can all be distilled down into three main areas:

Step one is creating a system of accessibility. Step two is all about application, and developing widespread commitment across all levels of the organization to use data to guide business decisions. The last step is action - aka just get started. You do not need to wait for conditions to be perfect to begin.?

Sean: I like the simplicity- the “three A’s” of building a data practice. Let’s dive into each of these a little further. So, accessibility - I’m guessing you are referring to not only creating data availability across an organization but also breaking down data so it is truly usable.?

Katie: Absolutely - so when I think about accessibility, it starts with embracing a data-driven culture. This often requires a shift in mindset within an organization. Successful data practices share data and insight transparently across departments and teams.?Employees at all levels should be encouraged to use data in their decision-making and be provided with the necessary training and resources.??

Sean: Yes, and encouraging collaboration creates a shared understanding of the business's performance and goals.

Katie: 100%. And it is super important to create a culture of collaboration around leveraging data. Being a "data-driven" company requires an organization's commitment to making decisions and guiding strategies based on data analysis rather than relying solely on intuition or gut feelings.?

When working on the application step,?data must be at the core of decision-making, and companies must find ways to use advanced analytics and data processing techniques to extract meaningful insights from their data. This may involve employing data scientists, analysts, and onboarding tools to identify meaningful trends, correlations, and patterns within the data.?

Sean: So then what should organizations do to get started?

Katie: Start where you are and with what you know. Employees are a company’s biggest asset.? Educating employees across all functions of the organization on how they contribute to core business success metrics and empowering them to make decisions that improve overall company performance is by definition a meaningful data practice.

Sean: Great stuff. We always appreciate you sharing your expertise with us, Katie!

Katie: Always happy to do so, Sean.

To hear more from Katie, be sure to check out The Loop Marketing Podcast episode: Data Strategy - Why Most Marketers Get It Wrong, where she is joined by Coegi’s Director of Digital Operations, Julia Wold.?

Thanks for reading!