New insights acquired from data are challenging old knowledge that is believed to be untouchable.

Based on our collaboration in the Bitkom work group ‘Digital Analytics & Optimization’, we were involved in the development of DAOMI and were excited about the results. We were very interested in finding out whether companies are following strategies in relation to digital analytics.

 

Only one in five companies has a DAO strategy, with the IT sector faring the worst at 4 per cent.

We thought about how things were on our side, as a provider of digital analytics solutions, and answered the DAOMI questionnaire ourselves.

The challenge in completing the questionnaire is to be honest – to look not at how we wish things were but at the actual reality. It was interesting to compare the results of different managers with one another.

As we are opening up new markets with a new product strategy and have set up marketing automation for digital customer communication, it was exciting to delve deeper into the subject of digital analytics and learn more.

We now also analyse all marketing and sales activities so we can evaluate them. We discuss our findings with the team. This influences the marketing and sales strategy. The results are also used in the innovation process for our product Netmind Core.

 

Our focus is on becoming more efficient in terms of lead generation.

A significant consequence of the evaluation of the digital analytics key indicators was that we are now focusing increasingly on inbound marketing in sales and are reducing outbound activities and cold-calling.

We established that the transition to a data-driven company not only affects technology but has several dimensions, as was clear from the DAOMI. The technology can be introduced in just a few days – good data analysis tools geared to the integration of all company divisions take care of most of the technical questions for the user. The real challenge was redefining the human factor – that is, the employee with their organisational integration and their skills in the digital analytics environment.

Ultimately, key indicators and reports are only of value if they are interpreted correctly. ‘Our employees first need to recognise the benefits of data, discuss insights and make use of them in their own work,’ says Matthias Scharpe, Head of Business Development at Mindlab.

 

Good feeling or key indicator?

New insights acquired from data are challenging old knowledge that is believed to be untouchable. We have learned to act against our habits and our expertise when the metrics say otherwise. We removed an entire market segment because, after long discussions about the key indicators, we were convinced that a decision had to be taken with conviction. In addition to openness to and trust in data, expertise in dealing with the results and their development (i.e. data sources and quality) is also required.

 

How do we proceed?

We have now answered the DAOMI questionnaire several times. We see progress and can draw conclusions for our own digitisation efforts in marketing and sales. We can grasp the complexity of digitisation projects, structure them into sub-projects and extend them to other areas of the company. This is how we as a company consistently live that which we sell to our customers with our digital analytics solution.

Determine your own DAOMI now and check the state of your digital data analysis free of charge (only available in German).