IT’S not unusual these days for organizations to want to make decisions on the basis of rigorous, data-based insights rather than experience or intuition. “Insights” can be defined in a variety of ways, but in this case I am referring to getting an understanding of the true nature of something by virtue of extensive and systematic analysis of relevant data. That “something” is most frequently a customer when we are talking about business insights, but it could also refer to a supplier, a financial event, or an employee. Having true insights on these entities means you are likely to predict their behavior—at least to some degree—and achieve a positive outcome.
We usually think the tough part of insights is creating them. But there is plenty said and written about that topic. We sometimes neglect the earlier and later stages of the process of “insight management.” Perhaps the overarching challenge is that very few organizations think about insights as a process; they have been idiosyncratic and personal. But if companies are serious about becoming IDOs, they should focus on how insights are framed, created, marketed, consumed, and stored for reuse.
*This is a part of a series of articles on Insight Driven Organisations. To be continued………….*