This post about data-led performance is by Paul Teasdale our guest in episode 260 published on the 3rd of August 2023. Watch the video or listen to the audio.
Who drives data-led performance in your organisation?
All too often the clients that I work with talk about having new technology, reports, data etc. ‘thrust upon them’ by the Technical/ Digital team in their organisation. Invariably done with the best of intentions, this approach more often than not has a negative impact. One starting assumption that I’ve been able to uncover is that “more data is better”, and I love to challenge that assumption!
Big Data
Big Data (or a Big Data approach) is all about mining large amounts of data to identify trends, patterns and insights that may (or may not) be there. This approach has its advantages, especially if you have access to machine learning, predictive modelling, and advanced analytics. But let’s face it, that’s few and far between. And even if you do have all those resources at your disposal, it can also lead to this issue of the ‘tail wagging the dog’, with a drive for more and more data to be generated, even if you don’t know if it will be useful.
Lessons from F1
One of the biggest lessons I got from working in the world of F1, where the sheer volume, variety and velocity of data can be awe-inspiring, was that there is another way. In fact, there needs to be another way, because getting more data means more sensors and telemetry, which add weight to the car and ultimately have a negative impact on the very performance you’re trying to drive. By putting Data LAST on the list, you can set yourself up for a better chance of success, with a smaller investment in data capture. Who wouldn’t want that?
RAPID
- The RAPID Performance framework that I developed, based on my learnings from the world of F1, helps you walk through steps that ensure that performance is always front of mind, and leads to the smallest possible data set required:
- RESULTS – be clear on what you want to achieve, and how you want to achieve it (e.g., Championship points, whilst diving a sustainability agenda)
- ACTIONS – understand the key actions at your disposal that have the most significant impact on your Results (e.g., deciding when to pit your car in a race)
- PEOPLE – be clear on who the right People are to make decisions on your Actions and put them into operation, what drives them and how to support them (e.g., strategists, mechanics)
- INSIGHTS – decide what Insights your People need to support their decision-making (e.g., what is the impact of the decision to pit the car now, or leave it out?)
- DATA – what is the smallest possible Data set required to derive the Insights that my People need? (e.g., position in race, tyre wear, competitor position, weather)
- RAPID Performance for your organisation
- If you’d like to accelerate your own performance with supporting information, insights and materials to help walk you through the RAPID Performance approach, go to https://rapid.paulteasdale.co.uk/ or contact me directly at paul@paulteasdale.co.uk
BIO
I help people perform using insights from my 7 years working with Formula 1 team McLaren, whilst also incorporating lessons from other high performance organisations that I have worked with.
From sausage making to banking to Formula 1, and lots of other stuff in between, working in both the UK and in New Zealand, I’ve got a lot of stories to tell your audience that could be of interest and value.
Whether you’re looking for practical tips for bringing a F1 mindset to your organisation, or stories of how sausage-making changed the world of business banking, I’ve got something to share.
QUICK FACTS
- Paul’s work at McLaren saw him working on projects including supermarket shelf stacking, oil & gas drilling and airport operations
- Paul has previously worked in shipping, sausage-making, consulting and banking
- Host of the Helping you Perform podcast
Thanks to Paul for this article.
