Dollar Driven
17 days ago
- #data-driven
- #business
- #finance
- Company leadership claims to be data-driven, but the only data that truly matters is money.
- All collected data (customer sign-ups, retention, feature usage, etc.) is a proxy for money, often requiring translation through managers.
- Product managers are described as turning 'data into dollars,' while engineers are often too removed from financial data to be trusted with it.
- Leadership should share financial details to help teams make better decisions and understand which data is meaningful.
- Amazon's partial financial transparency was a refreshing change from Disney's secrecy, aiding better decision-making.
- When collecting data or creating dashboards, always consider how it translates up the chain to financial impact.