Rethinking how managers are working with data – creating value beyond the hype

5 min read

In today’s rapidly evolving business landscape, managers are increasingly bombarded with a wealth of data from various sources. With the integration of AI, this influx has grown exponentially, not just in raw data but also in the form of interpretations and suggestions. Amidst this data deluge, it is critical for managers to sort, interpret, and draw the right conclusions to support and present impactful decisions. However, there are a handful of strategies that can make a significant difference, generating 25% more business value. Getting this right is crucial.

September 19, 2024inFeatured insights

We are in an age of information overload, the insights below show the problems that managers experience working data driven

It confirms the typical behaviour of financially outstanding organisations compared to others.

Auto or AI created data, views, charts and answers are wrong or useless for a specific task

Managers are overloaded with Information

Managers express difficulties in identifying problems accurately

Managers voice difficulties drawing the right conclusions based on input from multiple sources

Management meetings yield intangible results due to lack of clear calls to action

Managers voice problems in creating impactful storytelling and presentations

Our insight also show that management are up-skilling themselves towards working datadriven

New leaders boosted learning activities quantify impact in the last 3 years

Senior leaders boosted learning activity to quantify impact in the last 3 years

We have identified five strategies that significantly increase the effectiveness of managers making data-driven decisions

While there is an increasing amount of complexity organizations and managers are facing we see a clear pattern in how financially most successful companies master the transition into an organization fit for future.

Manage information overload and understand how to read and interpretating data
Converting information into business cases
Master data driven storytelling
Leveraging real cases and direct coaching
Embracing continous learning and adaptation

Reading and Interpreting Data

The first step to empowering line managers is ensuring they are equipped with the skills to read and interpret data effectively. This goes beyond merely understanding numbers; it involves asking the right questions and recognizing patterns, anomalies, and trends within the data. By focusing on hands-on training rather than theoretical knowledge, managers can become adept at navigating data with confidence. This foundational skill is crucial for making informed decisions that drive business outcomes.

Converting Information into Business Cases

Data on its own has limited value; it’s the interpretation and application of that data that matters. Line managers must be capable of converting data into actionable business cases, putting a price tag on insights to measure their potential impact. This ability to translate data into financial terms allows managers to prioritize initiatives, allocate resources effectively, and communicate the value of data-driven decisions to stakeholders.

Mastering Data-Driven Storytelling

Effective communication is essential for driving decisions within an organization. Data-driven storytelling is about crafting a compelling narrative that ties data insights to business goals. By mastering this skill, line managers can present data in a way that resonates with their audience, whether they are executives, team members, or clients. This narrative approach ensures that data-driven decisions are not only understood but also embraced by the broader organization.

Leveraging Real Cases and Direct Coaching

To fully harness the power of data, line managers must engage in practical, hands-on experiences that mirror real-world scenarios. By working on actual business cases and receiving strong direct coaching, managers can refine their decision-making process in a controlled, supportive environment. This approach allows them to apply what they’ve learned in training directly to their day-to-day responsibilities, bridging the gap between theory and practice.

Embracing Continuous Learning and Adaptation

The final key is fostering a culture of continuous learning and adaptation. As technology evolves and new data sources emerge, line managers must stay current with the latest tools and techniques. This ongoing education ensures that they remain agile, capable of leveraging all available data and IT investments to their fullest potential. By continually updating their skills and knowledge, managers can maintain a competitive edge and continue to drive impactful, data-driven decisions.

In conclusion, empowering line managers to make impactful decisions based on data requires a focused approach that includes developing data literacy, contextualizing data into business cases, mastering data-driven storytelling, leveraging real cases with direct coaching, and embracing continuous learning. By adopting these strategies, managers can truly embrace data-driven decision-making, leading to more informed, effective, and valuable business outcomes.

Our ‘manager acceleration program’ is designed to equip managers with everything to embrace data driven decision making.

The content/cases of the trainings can be customized to the client. Most clients even choose topics from the leadership agenda – all based on the best practice research of the F-Top Institute. That gives managers on top excellent insights and training people management topics while elevating the data-driven decision skills.

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Rethinking how managers are working with data – creating value beyond the hype

F-Top Institute

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