CTO Excellence in 100 Days by Etienne de Bruin

Author:Etienne de Bruin
Language: eng
Format: epub
Publisher: Etienne De bruin
Published: 2022-12-05T00:00:00+00:00

Since you’ve gained access to most of the organization’s data, you have access to the metrics. How are sales? How is the website doing? Is it serving the company as it should? How is the social media presence? Could it be stronger? What apps is the company using that are either out of date or do not serve the company as they should?

What is the revenue growth rate (RGR)? Is there a high customer acquisition cost (CAC)? Is everyone using the same technology, or is the CEO still on Outlook, while the rest of the company has switched to Gmail? These inconsistencies may seem small, but when they are switched to a streamlined system, the company overall begins to run smoother.

As you prepared yourself to work with this company, you researched how the company came up with their revenue model. You know how many people are subscribing to it, some general metrics, and how customers engage in general with the business.

However, you need to dig deeper into these metrics as you learn more about the company. How do the metrics interact with each other? How are key players in the company reading the data? Are they reading the data at all? Is the data available essential to the business, and is it aligned with business goals? As you know, companies have access to a lot of different types of data, but is your company using the right data the right way?

Sometimes there is a disconnect between the company and the metrics. Maybe the company isn’t reading the data correctly, is reading the wrong data, or simply doesn’t have access to the type of data that will help them operate better. This is where you step in with your deep understanding of the metrics and suggest ways to make the data work for the company.

You’re using the access to the inner workings of the company that you were granted before to look at the bigger picture. You’re also using your outside knowledge of different types of data to impact the company. Your C-suite might not know they’re using the wrong data set to answer their questions, but you know, and you know which data set would work better.

You’re also using this opportunity to make sure the existing technology is presenting the correct metrics. For example, is the marketing department using an outdated piece of software to figure out customer acquisition cost? Is there a breakdown in the subscription service that is reducing the customer retention rate, and where is the breakdown? What technologies can be implemented, changed, or possibly removed to help improve the company metrics?

There’s a beauty in company metrics that not everyone is lucky enough to see. Merely numbers, they reveal everything from financial changes to interdepartmental problems.

Let’s say you’ve looked at the manufacturing cost per unit for the past eight quarters, and you notice an anomaly in the margin due to a slight upward spiral. You’ve done your homework and see that the costing data has been masked by an unusual corresponding increase in sales.

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