Data is Business - The attention seeking kid

While traditional business processes get automated once and are tweaked periodically for enhancement, Data is more like a constant attention seeking kid.

Even in an agile world, the business processes change at a slow pace. But a data driven business changes almost daily. Why?

• Everyday there are new insights to be found,
• new data sources become available,
• new signals to be targeted,
• new experiments to be tried
• and the feedback comes in a 24 hour cycle or less.

This makes data driven businesses to be constantly tended to, try mutliple things in an iterative fashion to get to better results all the time. ‘ Use as needed’ Cloud resources make this easy and almost imperative since the competition must be doing this all the time.

When booking.com does 20000 experiments in a year to tweak everything to see what will move the needle in desired direction, it is thanks to the cloud based data driven business that makes it possible. There is no set business process /specification to be automated.

It is a continuous discovery of better business outcomes, powered by data driven insights!!!

Failing in the 'Right' things

When you try something first time, failure is a given. What matters is if you are failing in the Right things.

Now what is the right thing?

One that is impactful and strategic. You do not want to fail on things that are neither impactful nor strategic. While every failure has a learning, failing on the wrong things means the failure is not worth it.

When someone asked Einstein why he failed 1000 times in making the light bulb, he said “ i did not fail 1000 times. There are 1000 steps to making a light bulb!”

One of world’s most successful hotel booking company Booking.com does about 10000+ experiments annually to see what works and what will improve the key business outcomes. while some of those actually improve the outcomes, there are 1000s that fail. But without those, you will never know what works!!!