You recently started a new position as a data analyst for a large corporation. This past year, members of the organization’s leadership council have shared a new organization-wide strategic goal: Leverage data analytics and technology to become data-driven decision makers.
One way your organization is planning to become more data-driven is to adopt a new customer relationship management (CRM) system. This system would allow the organization to manage relationships with current customers, identify potential customers, increase profits, streamline processes, and facilitate business decisions. In addition, the CRM system will utilize data analysis, which is of high interest to your stakeholders.
A majority of the organization’s stakeholders are unfamiliar with your process for using data analysis to facilitate organizational decision making. The data analytics team has recently received several inquiries from a variety of stakeholders asking you how data analysis, and specifically the new CRM, can be used effectively to impact organizational decision making.
Quite often, professionals use elevator pitches to clearly and concisely convey important information to others. You will need to consider the interests of the organization’s stakeholders and determine what they need to know. To gain acceptance and “buy-in” from stakeholders, prepare an elevator pitch on how analysis using data from the CRM system can be instrumental in data-driven decision making.
First, select the industry you are most interested in:
- Banking and Securities
- Communication and Media
- Consumer Trade
Note: If you are interested in an industry that is not listed above, reach out to your instructor for approval prior to completing your project. You are not required to select the same industry that you explored in other projects in this course.
You conduct a quick search online to learn more about elevator pitches and find the Elevator Pitch Guide and an easy template to follow (see the What to Submit and Supporting Materials sections below). Create a clear and concise elevator pitch by first introducing yourself and then discussing the following:
- Describe what it means to be a data-driven organization. Consider the following:
- How can data inform decision making? Consider providing an example that is relevant to your industry.
- How does a CRM system play a role in organizational decision making?
- What is data analysis? How do organizations use data analysis? What are its benefits?
- Upon purchasing a CRM system, the data analytics team will be responsible for managing the data using the data analytics lifecycle (DAL). Briefly explain each stage of the DAL and a data analyst’s role in each stage. Consider mentioning the relevant types of data that will be available from the CRM system and what questions that data can be used to address in your organization and the industry you selected.
- As part of the DAL, data analysts communicate their results to various audiences. A CRM system is a common tool used for data-driven decision making in organizations. In your elevator pitch, identify at least two types of tools or methods for sharing data and results from a CRM system. Consider the following:
- What methods or tools are available and are widely used by analysts to demonstrate conclusions to decision makers?
- How might data visualization play a role in communicating your results?
- Be sure to explain why these tools or methods are appropriate for communicating with stakeholders and other nontechnical audiences in your organization. Consider the following:
- What are the benefits of communicating information this way?
- Do these tools or methods accurately summarize the information you would like to convey?
- Will the tools or methods meet the stakeholders’ needs?
- Are there any considerations that need to be made in regard to cost or time for using these tools or methods?
- Explain how data influences and impacts organizational decision making. Consider the following:
- What are the potential improvements that data from a CRM system with data analysis capabilities can be used to facilitate in this type of organization and industry?
- How will adopting a CRM system impact an organization and its functions?
- What are the potential constraints when using a CRM system?