42. Why Data & Analytics Could Be the Difference Between Success and Failure for Your Startup

On this episode, we welcome Govind Balu, Founder and CEO of QuXigma. Govind has over 3 decades of experience in the data and analytics space. He was the lead data scientist at companies such as Bank of America and Allstate prior to starting his own company.

His mission is to make data and analytics accessible to all companies and help them prioritize on value and customer experience. We discuss not only the why but more importantly how companies of any size, but especially startups can and should be leveraging data, analytics and ultimately machine learning.

#LessonsInGrowth:

• Data in itself, is not valuable; it is converting the data into information that allows the business to make better decisions.
• Two keys for startups- build a data foundation to collect and consolidate all of your data and start converting your data into information
• 3 key areas of positive impact- targeting the right prospects, sales conversion rates, up-sell/cross-sell and customer retention.
• The “barriers to entry” for startups to use data and analytics have mostly been eliminated.
• Using data and analytics to measure and analyze customer experience.

Website: https://www.quaxigma.com/