Ep 11. Gain Authority Over Your Automotive Data

In this episode of the Auto Tech Show, host Marc Babin discusses the critical role of data in business decision-making with Ralph Echtler, the Data Liberation Officer at Datafloss. They explore the importance of understanding and utilizing data effectively, the challenges organizations face in their data journey, and the need for collaboration and expertise in navigating the complexities of data management. The conversation emphasizes that while many leaders recognize the value of data, a significant portion struggle with its application, highlighting the necessity for organizations to start small and build confidence in their data capabilities.

Takeaways

• Data-driven organizations are 23% more likely to acquire customers.
• 80% of business leaders recognize data's importance but struggle with its application.
• The risk of inaction in data utilization is significant.
• Collecting data today is crucial for future analysis.
• Starting small in data initiatives builds confidence over time.
• Understanding the right questions is key to effective data use.
• Data silos hinder effective data analysis and decision-making.
• Collaboration with experts can ease the data journey.
• Organizations should maintain control over their data and insights.
• The data journey is iterative and requires ongoing refinement.

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