Data: A Living, Breathing Thing - Kaushik Meneni - Making Better Decisions - Episode #33

Making Better Decisions: Leaders in Data

In this episode of the Making Better Decisions podcast, Ryan Sullivan discusses the essential role of data in decision-making with Kaushik Meneni, Director of Commercial Analytics at Extended Stay America. Kaushik shares insights from his extensive career spanning across multiple industries such as biotech, manufacturing, and hospitality, emphasizing the dynamic nature of data. They dive into the significance of understanding business strategy, the importance of standardization and automation in data tasks, and the exciting potential of data analytics in sales and FP&A.

Key Takeaways:

• Embrace Data as a Living Entity: Recognize that data is constantly changing and adapting. When making decisions, consider the varying timelines (daily, weekly, monthly) and how these affect the data and outcomes.
• Balance Between Helping and Guiding: While supporting with data, be proactive in providing unrequested insights that can add value. Create reports that not only answer asked questions but also highlight important trends and areas for improvement.
• Showcase Data's Role in Strategy: Emphasize that data strategy is intertwined with business strategy. Data leaders should ensure that their analytics efforts directly support and drive the larger business goals.
• Invest in External Data and Competitive Analysis: Look beyond internal data. Incorporate external data sources and competitive analysis to give a holistic view that can lead to more informed decision-making and business strategy alignment.
• Facilitate Clear Communication and Collaboration: Ensure that data is presented in a way that can be easily understood by different departments. Set up top-down reports that start with high-level KPIs for leadership and drill down to detailed analysis for managers and analysts.

Quote of the Show:

• “Data is an ever-changing thing. It's a machine on its own.” - Kaushik Meneni

Links:

• LinkedIn: https://www.linkedin.com/in/kaushik-meneni/
• Website: https://www.extendedstayamerica.com/?mid=lk-LINKEDIN2019

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