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COMMON CHALLENGES

Every startup strives to use data more effectively to make faster decisions, ship better products, have happier customers and ultimately generate sustainable growth. When it comes to leveraging data, a startup's objectives can be summarised into four Jobs-to-be-Done. The order of importance will vary by type/maturity of business, but these four JTBDs broadly capture what almost every startup wants to do with respect to its data:

  1. Use data to enhance the intelligence and utility of its products/services

  2. Improve the accessibility and reliability of data/insights available to its teams

  3. Increase the quality and speed of decisions being made by its teams

  4. Build data infrastructure that is easy to manage and designed to scale 

 

Most startups have an ambitious vision for how they'd like to use data. Defining this vision is hard enough, but the real challenge lies in making the complex and nuanced decisions necessary to bring this vision to life. Getting these seemingly-trivial choices right can have a huge compounding impact on the future trajectory of a business - often in unforeseeable ways (see Butterfly effect).

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Below is a subset of the most common data-related challenges I see startups wrestling with:

Data & Product Strategy

We have a clear product and business strategy defined. What should our short/medium term Data strategy be to support this?

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How do I know if the Data projects my team is working on are the right ones to focus on? I want to validate if they're taking the right approach.

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We want to make our first/next Data hire. What kind of profile should we be looking for?

Are you facing some of the same Challenges in your business?

Copyright © 2022 Arjun Anjaria

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