How (and Why) to be a data driven startup - THub Rubrix

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1. How (and Why) to be a
   Data Driven
   
   
   Startup
   By Soham Mondal from Triveous
   

   THub
   -
   RubriX
   

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2. Presentation Agenda
   Agenda
   Introduction
   

   Being data-driven: Why is it important?
   

   Relevance to startups
   1
   Challenges
   

   Perceived Challenges
   

   Actual Problems
   2
   How to be a data driven startup?
   

   Methodology
   

   Tools
   3
   

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3. I’m Soham Mondal
   Founding Partner, Triveous
   

   Lead Anchor Mentor
   @
   Google For Startups
   
   
   Soham is the Founding Partner at Triveous and brings over 13 years
   of experience in building and servicing products across like finance,
   entertainment, education among others.
   https://www.linkedin.com/in/sohammondal/
   

   https://twitter.com/s0h4m
   Associations
   About
   

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4. Triveous Technologies
   

   https://triveous.com/
   2013 2016 2017
   Khoslalabs
   
   
   Worked with Khoslalabs on a state-of-the-art
   micro ATM (any Kirana shop owner can act as
   an ATM teller using their mobile phone) and
   POS solutions for the underbanked sections of
   India.
   EnParadigm and Google
   
   
   Worked with Enparadigm on multiple offline
   first apps in the insurance and education
   space.
   
   
   Worked with Google on multiple initiatives in
   the User Experience and Android Application
   space.
   About
   

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5. 2018 2022
   FREND, Novopay and IDEO
   
   
   FREND is a non profit backed by Google and
   Tata Trusts.
   
   
   Worked on designing and developing an offline
   first application to generate livelihood for over
   80,000 women in 300,000 villages across
   India.
   
   
   Worked with IDEO on a design framework for
   new internet users.
   Google AI, Creatorstack and Cutshort
   
   
   Worked with Novopay on multiple financial
   applications impacting millions of users across
   India.
   
   
   Worked on state of multiple state-of-the-art
   products in health, creator economy,
   recruitment and agri-tech.
   

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6. Introduction
   What is a data-driven startup? Why should you care?
   1
   

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7. If you can’t measure it, you can’t
   improve it.
   Peter Drucker
   

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8. Example:
   
   
   COVID
   -
   19 Pandemic
   Metrics define strategy &
   progress
   
   
   No tracking
   =
   No management
   
   
   Number of cases vs Positivity Rate
   
   
   Government agencies, Healthcare
   workers
   
   
   Metrics define strategy
   PROBLEM STATEMENT
   Introduction
   

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9. Forrester Research
   New type of startups/orgs are being created: Analysts at Forrester
   Research have identified a new type of organisation, the insights-
   driven business, which they claim are growing at an average of more
   than 30% annually and are on track to earn $1.8 trillion by 2021.
   

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10. Harvard Business Review
    Data-driven companies enjoy increased revenue, improved customer
    service, best-in-class operating efficiencies, and improved
    profitability.
    

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11. Startups
    Opportunity / Product Market Fit
    
    
    -
    How to define the problem statement
    

    -
    How to find opportunities in market
    

    -
    How to define product market fit
    01.
    Product / Growth / Acquisition
    
    
    -
    How to prioritise new features?
    

    -
    How to acquire new users?
    

    -
    How to grow the organisation or product?
    02.
    Monetisation
    
    
    -
    Choosing the right monetisation channels
    or strategy
    

    -
    Revenue projections
    03.
    Introduction
    

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12. Challenges
    What are the challenges in being a data driven organisation?
    2
    

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13. Perceived Problem:
    
    
    Capturing Data
    

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14. Feel overwhelmed making decisions at work
    94%
    More data doesn’t mean better decision making
    
    
    From Oracle Netsuite
    

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15. Real Challenges
    Important metrics
    
    
    What metrics should you capture? What
    metrics are important for your business?
    Data Driven Decision Making
    
    
    How do you make data driven decisions?
    Culture
    
    
    How to build an org wide culture of focusing on
    data and making data driven decisions?
    Challenges
    

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16. Solution
    How to be a data driven startup or organisation?
    3
    

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17. Culture
    
    
    Make data driven decision
    making a part of the org
    culture
    Attitude
    
    
    Change your mindset
    about data
    Skilling
    
    
    Improve data literacy org-
    wide
    Tooling
    
    
    Provide people the right tools
    to be data driven
    

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18. Don’t look at data as a separate part of the
    business to be used by analysts only
    Attitude
    

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19. How do we make Data Driven Decision Making
    an Org-Wide phenomenon?
    Cultural Transformation
    

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20. https://blog.weekdone.com/good-case-studies-implementing-okrs/
    

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22. https://7geese.com/okr-objectives-and-key-results-faqs/
    

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23. Analytics Framework
    
    
    Platform to securely capture and
    store data
    Access to Data, Data
    Literacy
    
    
    Easy access to data
    

    Established process around data
    handling and access
    

    Improve data literacy org-wide
    

    Accessible OKRs
    
    
    Follow OKR or similar process
    

    Make OKRs accessible to relevant
    people
    Product Research and
    Opportunity Analysis
    
    
    Use the “Jobs to be Done”
    Framework and other
    methodologies
    Tooling and Skilling
    Solution
    

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24. Product Research
    
    
    Techniques
    Market Research
    
    
    -
    What Is the market?
    

    -
    Who are your competitors?
    

    -
    Who are the important stakeholders?
    01.
    Qualitative Research
    
    
    -
    What do users need?
    

    -
    What are their goals and aspirations?
    

    -
    What are the challenges users face?
    02.
    Quantitative Research
    
    
    -
    How to confirm or reject certain
    hypotheses?
    

    -
    Statistical analysis of data
    03.
    Solution
    

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25. https://pdmethods.com/user-research/the-difference-between-qualitative-research-and-quantitative-research/
    

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27. Jobs-to-be-Done Theory provides a framework for defining,
    categorising, capturing, and organising all your customers’
    needs.
    JOBS TO BE DONE FRAMEWORK
    

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28. https://hbr.org/2016/09/know-your-customers-jobs-to-be-done
    

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29. https://jobs-to-be-done-book.com/
    

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30. https://jobs-to-be-done-book.com/
    

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31. https://www.intercom.com/blog/podcasts/podcast-tony-ulwick-on-jobs-to-be-done/
    

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32. How (and Why) to be a
    
    
    Data Driven Startup?
    01
    
    
    Introduction
    
    
    How is data important?
    

    Relevance to startups
    02
    
    
    Challenges
    
    
    Important Metrics
    

    Data Driven Decision Making
    

    Culture
    03
    
    
    Solution
    
    
    Attitude
    

    Culture
    -
    OKRs
    

    Skilling
    

    Tooling
    -
    Jobs to be Done
    Recap
    

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33. Thank You
    Email/Site
    
    
    soham@triveous.com
    

    https://triveous.com/
    01.
    Email/Website
    
    
    https://www.linkedin.com/in/sohammondal/
    

    https://twitter.com/s0h4m
    02.
    Slides
    
    
    https://speakerdeck.com/soham/how-and-
    why-to-be-a-data-driven-startup
    03.
    Fin
    

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