Laurence refuses to read reports from his product managers with more than five of the vital key performance indicators on them. “The amount of data is obscene. The managers that are going to be successful are going to be the ones who are prepared to take a knife to the amount of data… Otherwise, it’s like a virus.
“Where did it all go wrong?” he continues. “My kids weren’t taught that huge volumes of data were great. Was there a university professor who stood up and said, ‘If you have over 100 indicators you’re a good boy’? Because whoever that professor is, we need to shoot him.”
Laurence has just won a wager with his team over the number of Vodafone VIP members who bought tickets for concerts. His team, based on the data, bet on one number. Their boss, based on what he knows about people, thought it would be higher. Data plus hunch equals a powerful combination. Or, as Laurence concludes: “Data on its own is impotent.”
Guy Lawrence, Vodafone UK CEO
http://thinkquarterly.co.uk/01-data/executive-insight-guy-laurence/