Better data, better strategy

If strategy is a set of informed choices about overcoming a high-stakes challenge, then it stands to reason that one way of ensuring better strategy is to improve the quality of inputs.

In Augmented Strategy, Dr. Dellermann and I identify the four most important data sources for strategy. First we have two internal data sources: expert knowledge and operational data. Then we have two external data sources: customer experience and ecosystem data.

Expert knowledge and customer experience also serve as leading indicators, or rather, can be the source of early signals of forthcoming change. Operational and ecosystem data are lagging indicators, telling us what had happened.

Leveraging these data sources will allow you to make better informed decisions and assumptions, hence improving the overall quality of your strategic choices.

Best of all? All this data is already available to you. You just need to reach for it.