Episode 5: Capitalizing on the Journey of Data to Drive Efficient Business Insights

Ashish Thakur, a strategy and technology executive at Axtria, joins the podcast this week. Ashish has a proven track record of fostering business growth through insightful data utilization for his clients. We’ll dive into the concept he terms the “Journey of Data” and use real-life examples to illustrate how this approach can effectively transform struggling businesses into thriving ones. Furthermore, we’ll delve into the signal-to-noise ratio, discerning the value of data and distinguishing between meaningful and irrelevant information. Join us for an insightful exploration of the Journey of Data and its practical applications in business.

In This Episode, We Cover:

• [2:40] Ashish explains what the “Journey of Data” means for a specific business or organization
• [5:04] Ashish describes how one can decide and identify relevant data sets to use
• [6:38] There is a difference in the quality and the usability of these data sets
• [8:30] Ashish gives an example of a signal-to-noise ratio
• [11:44] Ashish supplies an example of the various stages: the start, the evolution, the growth and the conclusion of the journey of data
• [17:27] Jasmeet inquires about how Ashish helps his customers
• [20:59] Ashish discusses some key takeaways

Key Takeaways:

• It’s important to recognize and vet the critical business objectives you want to achieve and operationalize the drivers and how they will be deployed.
• It’s essential to acknowledge the signal or signals to track and the appropriate KPIs, which would help you measure this. KPI is not the governing factor. Interpretation of the KPI is the governing factor.
• The key determinant in keeping our true north aligned is giving the correct information to the right audience at the appropriate business life cycle as it progresses.