Last Thursday, we had the pleasure of partnering with LeapThree analytics consultancy to co-host The Data Challenge breakfast seminar.
David Worby, CEO of Prospero Commerce (ex M&S, Debenhams and Harrods), joined us as guest speaker and round table moderator. He opened the seminar by asking the question, “how can multichannel retailers win with data?”
With more than 30 years of experience in the retail industry and multiple data wins under his belt, David shared three of his most important learnings:
1. Always have a plan
Oftentimes, having precise goals can be seen as being too rigid by companies. While you shouldn’t become a slave to your plan, it is important to have one. When your company “hits the first sign of fog”, it gives you much needed direction and insight.
2. Focus on people
Many businesses struggle to understand how they should divide time and resources between people, processes and technology. Focusing on people is the secret to success; the best processes and technologies can be negatively affected by the wrong people.
3. Make sure that it’s okay to fail
Developing a culture that doesn’t criticise failure is crucial. If you can’t learn from things that don’t go well, you can’t move forward.
Delegates from some of the world’s best multichannel retailers weighed in on the topic, discussing David’s comments and adding their own data struggles and triumphs.
Discover must-read tips from David Worby and attendees of The Data Challenge breakfast seminar: