6 - Repeat and learn Flashcards
What is a results-driven data and analytics strategy?
A strategy that is more effective if outcomes can be repeated over and over.
What accelerates learning in a data strategy?
Data experimentation.
What is the consequence of starting every project from scratch?
The second win is delayed, momentum dies, and hard-won status dissipates.
What is a key benefit of having already cleaned data for a project?
The second quick win can occur within a week, even if results are negative.
What can the method discovered in the Singaporean photocopying problem be applied to?
Chargebacks for various services across the company.
Why is it important to build a repeat-and-learn culture?
To encourage organizational change rather than positioning the data team as mere fixers.
How does repetition give context to data processes?
It helps explain why the process is being done, rather than relying on abstract strategies.
What is a common issue with one-off data projects?
They drain resources and lack repeatable processes.
What is essential for documenting a successful project?
Capturing purpose, scope, input, flow, output, measurement, and risks.
What does good documentation allow in a data project?
It allows others to replicate the project independently.
What should businesses avoid after a data success?
Jumping straight into large-scale IT projects without proper evaluation.
What should be evaluated before implementing a new IT solution?
The data and business processes generating that data.
What is a data process?
A defined way to achieve value from data for the business.
What should the focus be when creating a data process?
Maximizing the value of the available data.
What is a business change process?
A way to realize value from data for the business, focusing on user actions.
What should be the intention when linking insight to a repeatable data process?
To adjust a business process for value realization.
What is the challenge faced by the entertainment company in the case study?
Reducing customer churn.
What was achieved as a quick win in the entertainment company case study?
Identifying customers who reported problems for timely resolution.
What was the analysis outcome regarding customer incentives?
Targeting incentives based on calculated customer lifetime value.
What was a key action taken to reduce customer churn?
Timely contact with unhappy customers offering incentives.
What was necessary to maintain customer retention?
Evaluation of value, reuse of data, and tactical changes in business processes.
What is the main outcome of the process described for customer retention?
A process for customer retention
The process involved quick contact and offers to customers who had significant losses.
What are the three steps necessary for improving customer retention?
- Evaluation of the value provided to the customer
- Reuse of data
- Tactical changes in business processes
What significant impact did the implemented process have on churn and gambling controls?
Churn fell dramatically and safer gambling controls were improved
