Transitioning to be a data company — Tarush Aggarwal // 5x
- Part 1 Transitioning to be a data company — Tarush Aggarwal // 5x
- Part 2How tech businesses will change in 5 years — Tarush Aggarwal // 5x
Show Notes
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02:04The current state of go to market data management at the typical B2B organizationB2B companies have begun a data transition where they are going beyond just having a digital strategy. They must have an efficient data strategy and get deeper into their datasets to stay ahead of the competition.
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05:04The utility of business intelligence tools and data warehousesHaving your data in a data warehouse allows you to clean and compile it to answer complicated business questions. Google Analytics is a good starter tool but doesn't interact well with the modern data stack ecosystem.
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08:06What separates data focused organizations from othersData-focused organizations can make better decisions because they have access to better information. Most organizations will find value in starting to ingest their data, building core models, and having self-service analytics.
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10:46The challenge of dealing with multiple data sourcesWhile companies may believe they have a data quality problem, what they actually have is a data sources problem. They lack the expertise to bring together all the different data sources to answer holistic questions.
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14:14Overestimating the ability of machine learning and data scienceMany companies havent laid the foundation to benefit from machine learning. Before jumping in machine learning, companies need to ensure that they understand their core data models and that these models arent changing.
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16:09Getting to the point of benefiting from machine learningThe tooling is becoming more specialized which means that the use cases around that tooling are starting to get generalized. So, augmented analytics and other specialized tools are offering more sophisticated machine learning models.
Quotes
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"Digital marketing is really the data revolution where it's no longer just about having a digital strategy, everyone has that. It's about how you become really efficient with that." - Tarush Aggarwal
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"Google analytics is an entry point into thinking of the world from a data perspective. But, not very valuable as you scale up. It doesn't play well into the modern data stack ecosystem." - Tarush Aggarwal
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"Having data in a single place allows us to clean this data, join it and answer really complicated questions." - Tarush Aggarwal
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"Every company's using data at a fundamental level. If you have a Google spreadsheet and you know how many sales units last month, and you know what sales you did this month, that is looking at data." - Tarush Aggarwal
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"Better information usually leads to better questions. And, better questions eventually lead to optimizations which can lead to better decisions." - Tarush Aggarwal
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"Once you grow past Google analytics and start to ingest your data, come up with your first three or four core models…this is where 95% of companies will find the most value." - Tarush Aggarwal
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"The number of data sources the average startup has today is between 10 and 12, compared to five years ago when it was one or two." - Tarush Aggarwal
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"A lot of companies think they have a data quality problem. They probably have a number of data sources problems. And they don't have the expertise in… to answer holistic questions." - Tarush Aggarwal
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"Machine learning is like designing the penthouse before you've started to build the skyscraper. Most people don't realize they haven't laid the foundation." - Tarush Aggarwal
- Part 1 Transitioning to be a data company — Tarush Aggarwal // 5x
- Part 2How tech businesses will change in 5 years — Tarush Aggarwal // 5x
Up Next:
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Part 1Transitioning to be a data company — Tarush Aggarwal // 5x
Tarush Aggarwal, Founder and CEO of 5x, talks about how to transition to being a data company. When most companies think about machine learning and data science, they’re thinking about hiring their own data scientists to build their models. However, most companies haven’t yet laid the foundation to gain real value from machine learning and don’t understand their business model. Today, Tarush discusses transitioning into being a data company.
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Part 2How tech businesses will change in 5 years — Tarush Aggarwal // 5x
Tarush Aggarwal, Founder and CEO of 5x, talks about how to transition to being a data company. Macro platforms like Facebook and Google are starting to lose their dominance. To smaller, niche providers. Ultimately, it's becoming harder for Google and Facebook to understand all of the different data sources and be as relevant as they used to be just a few years ago. Today, Tarush discusses how tech businesses will evolve in the next five years.
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