Data Evaluation for RevOps Readiness
EP17 | Data Evaluation for RevOps Readiness
In today's businesses, data has emerged as the driving force behind successful decision-making, innovation, and sustainable growth. As companies strive to navigate the complexities of their go to market functions, harnessing the power of data has become an indispensable requirement for staying ahead of the competition.
In the past, intuition and guesswork were sufficient to make informed business decisions. However, in the digital age, organizations have access to an abundance of data, both internal and external. This data must be harnessed to unlock valuable insights and transform operations. From customer preferences and market trends to operational efficiencies and risk analysis, data plays a critical role.
In this episode of The RevOps Recruiters podcast, we provide five critical questions each organization can use to evaluate the role data plays within the organization.
Data Hygiene
Question: Have you deployed a strategy for data governance and data hygiene that is adhered to across all Go-to-Market teams?
Data Accuracy and Validation: What data should be be collecting and how are we ensuring it is correct?
Data Standardization: Are you using pick-list, checkboxes, and standardized/formatted fields (numbers, dates, phone numbers), rather than plain text fields.
Data Security and Governance: Who has access to your data and what are they able to do with it (read only, edit, delete, download, etc.).
Regular Data Audits, Deduplication, and Cleansing: Are you consistently reviewing your data to ensure it stays healthy and fresh?
Data Informed Decisions
Question: Are your Go-to-Market decisions based on data-driven insights, rather than gut feel?
Goals: What are you trying to achieve and what data do you need to help you get there?
Defining Relevant Metrics: What are the KPI’s you will need to reach your goals? Do you currently have access to the data you need? If now, how do you begin gathering this data?
Analyze, Summarize, Visualize: What does the data actually say? How can you summarize and visualize the data so others can understand it?
Monitor and Evaluate: Once a decision has been made based on the data, is the decision playing out the way you expected? Are the outcomes verifiable by accurate data?
Data for Others
Question: Do our GTM teams understand the importance of gathering accurate data for themselves as well as the team working on the next stage of the customer journey?
Leader Championed Data: Does your leadership values and believes in the importance of data and the role it plays within the organization?
Data Driven Culture - Do you offer training and resources to equip individuals at all levels of the organization. Are you sharing both the How and the why?
Dashboards
Question: Are we using accurate data to report on each team’s performance through meaningful KPIs?
Define Metrics and KPIs: Are you working with stakeholders to determine the reports that are most helpful for them and their tearms?
Leading and Lagging indicators - Determining lagging indicators is easy, they are the results. Determining the leading indicators is more challenging, as these are the activities that lead to the result.
Data Visualization
Question: Is our team efficient at providing easy to understand data visualizations to each GTM leader based on their needs and requests?
Report/Dashboard tool/structures: What systems are you using (CRM, Tableau, PowerBI, etc.), and how often are these refreshed? Are they available in realtime? What is the proper cadence for review?
Data Presentation Preferences: What’s most useful for presentation (graphs, charts, lists, drill down, etc.)?
Links to this Podcast Episode