Ep 27 | Data Activation: Turning Data into Action with Steen Rasmussen, Founder & Director at IIH Nordic

In Episode 27 of Driven by Data: The Podcast, Kyle Winterbottom is joined by Steen Rasmussen, Founder & Director at IIH Nordic, where they discuss how to activate data to drive business value, which includes:How he ended up as a keynote speaker in Silicon ValleyWhy dashboards don’t facilitate action How data activation correlates action and the bottom line Why reporting has become an alibi in analytics How many organisations calculate costs to the point of insight but fail to factor in the cost of change Why we often underestimate the value lifecycle in analytics How and why we should calculate the cost of inaction   Why customer lifetime value is one of the key metrics in business The importance of focusing on margins and not just value Why we are obsessed with revenue and not profit The importance of understanding the end to end cost structure to sell your productsWhy marketing agencies can’t add value to the bottom line, only the top line Why the notion of “sell more to earn more” is a fallacy Data isn’t the new oil because it doesn’t retain value, it’s more like meat because it spoils What companies need is a data-driven business developer but what they often hire is a “number accountant”