<img alt="" src="https://secure.dump4barn.com/213374.png" style="display:none;">

How a data strategy can make you a better leader

Bilde av Kurt S. Helland
by Kurt S. Helland

21. Apr 2021, 4 minutes reading time

How a data strategy can make you a better leader

The benefits of being data-driven are both many and significant. Are you serious about steering your organization through an ever-changing environment? Here is how having a data strategy can make you a better leader.

As a leader, your job is to grow and develop your organization – while and through building trust in your ability to lead. You need to not only make the right decisions, but to have your organization believe in them. A good leader also attracts talented people who want to work for them.

Data might just be the single most powerful tool to help you with all of this.

Facts, not feels

First of all, as your grounds for decision-making become richer and more nuanced, you are obviously equipped to make smarter decisions. Especially when faced with particularly large and complex challenges, a solid data foundation lets you decide based on facts.

And while data-driven decisions are bound to come out on top in the long run – as they are both faster and more accurate – they also grant you more legitimacy as a leader. When your decisions are provably rooted in facts, not your gut feeling, they are both easier to justify within your organization, and more likely to be endorsed.

The analytical leader

Here I define data strategy as the bridge between your organization’s overarching strategy and its use and implementation of technology. How can you use technology to reach your strategic goals? What kind of tools and resources – external and internal – do you need?

In today’s business environment, understanding data analysis is itself considered a leadership skill. Hence I argue that even the process of creating a data strategy, and getting your team onboard to implement it, is inherently strengthening you as a convincing leader.

Data strategy as a bridge

Having a clear data strategy can also function as a bridge between teams. As a leader, you always have to tailor your communication based on very specific insights. Imagine, for example, that a real estate development company has a team on the ground in a certain region – with deep knowledge about that particular market and its movement. The culture, if you will. On the other hand, you have central entities with industry-specific knowledge such as the price development of real estate.

With data from both, you have a bridge between the two that builds both trust and understanding. Instead of a potential power struggle, you achieve synergy. Because the language of data is truly universal.

Actionable insights

Most of us remember a time where showing up to a meeting with no hard data was entirely normal. Every now and then the head of IT was pulled out of the broom closet to provide some color on certain areas, but decisions were definitely not data-driven.

Now, ideally, you have a data platform extensive enough to provide you with complete control at any time. This allows you to not only make leadership decisions with conviction, but you can reallocate time from internal control to customer acquisition or other strategic endeavors.

As a data-driven leader, you know your employees, your customers and the entire market better. With this deeper insight, you can be a visionary without just being a dreamer – you can act. And showing up to a board meeting with an extensive macro analysis, is a whole lot better at generating action than showing up with just an idea.

Act and attract

Lastly, there is an important element of employer branding at play here. The best and brightest want to work for companies – and people – that not only have a future, but are shaping it. Eventually, only data-driven companies really do. If you do not have a clear data strategy, you very well might be considered a laggard.

So if you want to attract the most talented people, make the smartest decisions and pave the way for increased growth and profitability – in short, be a fantastic leader – start working on a data strategy.

How to make more strategic corporate decisions based on data

Kurt S. Helland

Kurt S. Helland

Kurt is Executive Chairman of the Board at BI Builders and has several years of experience as a senior manager in the ICT, visual communication, finance, and banking industries. He can assist any organization to become more data-driven through comprehensive automation and proven industry experience. Kurt has a passion for football, cycling, golf, and skiing.

Follow our blog

Our dedicated employees write professional blogs worth reading.
Follow the blog for a sneak peek at the future!

Others would also read

Why a data platform adds value to your ERP project

Why a data platform adds value to your ERP project

Picture of Alf Inge Johansen

by Alf Inge Johansen

15. Nov 2021, 5 min reading time

BI Builders enters partnership with Elevondata Labs.

BI Builders enters partnership with Elevondata Labs.

Picture of BI Builders

by BI Builders

11. Nov 2021, 3 min reading time

Modernizing your analytics architecture part 1: Key objectives

Modernizing your analytics architecture part 1: Key objectives

Picture of Terje Vatle

by Terje Vatle

12. Oct 2021, 8 min reading time