Focusing on business data in 2021 to drive execution is the #1 top priority for CEOs, according to Sales Benchmark Index (SBI). In their 2020 research on CEO performance, SBI found that many underperforming CEOs are making decisions with incomplete, backward-looking, or inaccurate data. This shouldn’t come as a surprise. Even if you’re not a CEO, you likely struggle to get access to the data you need to do your job. And getting access is the “easy” part. Distilling data into actionable insights requires a unique blend of skills that few people have today.
So what do the best-in-class CEOs and organizations do? SBI discovered the following “data commonalities” across high-performers:
- They use data to be predictive and prescriptive (e.g forward-looking) as opposed to descriptive and diagnostic (e.g. backward-looking)
- They deploy Revenue Operations versus Sales Operations to better align and drive decisions cross-functionally
- They focus on the metrics that matter and drill in on leading, lagging, and behavioral indicators
For many, the first step in more effectively using data to drive execution is to create a single source of truth — maybe a CRM or a data warehouse. This isn’t a new idea, and If you ask around, you’ll find a few major issues with the approach. Perhaps the most critical: if your single source of truth isn’t broadly accessible, the predictive and prescriptive insights that can be gleaned from it won’t be broadly accessible either.
This week, we’ll ask a panel of cross-functional executives from high-performing companies to share their perspectives on the matter.
- Nick Bonfiglio, CEO and Co-Founder, Syncari
- Ilya Kirnos, Founding Partner @ SingalFire
- Ross Mason, Founder, MuleSoft and Dig Ventures
- Eileen Treanor, CFO at Inkling
We’ll explore how companies are making the transition from SalesOps to RevOps and utilizing the right cross-functional data to assess company health. We’ll also discuss ways in which organizations use data integrity to define and create organizational resilience and create forward-looking plans with confidence. Register today.