In episode 27 of the Acceleration Economy Minute, Kieron Allen shares examples of why it’s critical for organizations to contextualize data, especially data from significant periods, such as during the pandemic.
Highlights
00:14 — Chief analyst Tony Uphoff wrote a piece on lessons to be learned from three mistakes that Disney made. Kieron highlights this fascinating insight, pointing out what can go wrong when you don’t focus on three core issues within your organization.
00:53 — Tony honed in on the company’s inability to contextualize data. The data on which Former CEO Bob Chapek was focused ultimately ended up inflating the future success of the expanding Disney+ streaming service. This idea is called demand distortion.
01:47 — The demand distortion event was brought on by the Covid-19 pandemic. During the pandemic, people were at home so there was an influx in Disney+ subscribers.
02:14 — Organizations need to reconsider what data they’re focusing on, particularly how they look at data from the height of the pandemic during lockdowns. Remember to put context behind this data, says Kieron.
02:35 — Meta is an example of what not to do, as the company made a huge push for virtual reality environments during and after the pandemic. Although there were massive use cases, people weren’t ready to step into virtual environments, especially after being separated for so long.
03:33 — The hybrid and remote work model is another example. While organizations such as Zoom became essential, we’re already seeing discussions about whether or not remote work culture will continue as more people return to the office.
04:07 — When the data you’re looking at is from a significant period, such as the pandemic, it’s critical to contextualize that data as you build your organization’s business strategy.
Want more insights into all things data? Visit the Data Modernization channel:
