Leverage – make use of our strengths
So if constraints are guiding what we can do and what we have at our disposal, what’s the opposite of that? Well, that’s leverage. Leverage is where we can go and apply our strengths to create the greatest return on investment. Let’s take a quick look at what leverage means.
So as you can see, leverage is where we can apply a force multiplier, we can you can take one of our strengths, we can apply it against an area where we think it’s going to have the most value and we’re going to get a bigger bang for our buck than if we did something elsewhere. The effort you exert pulling at the top of that lever is much lower than the force generated at the point of the load. And that’s the whole point here that we find areas to exploit our strengths and overcome our weaknesses.
There’s a great example of how to do this in our 6 Easy Steps to Win at Data Governance course, where the Grand Hyatt were utilizing data as part of their social media strategy.
Data was really supporting one of their core business beliefs and their core mission statements, which was to deliver meaningful experiences to their guests
The Hyatt observed that their customers were talking about them online and they could capture this information and use it to engage those customers and deliver those distinctive experiences. In my case, all it took was an intern, a phone line, a couple of 20 cent chilli sauce packets and the ability to really care about the customer that you’re serving.
The Hyatt chose to use this data, this unstructured data, to create a moment of delight for me, where they could apply their strength of caring about their customers and their insight that customers were talking about them online. At the right point in time to put a smile on my face, create a positive brand impression and really delight the customer enough that they keep talking about it even in a second course.
What’s the lesson that we learn about this? You have to apply your strengths where they’re going to have the biggest impact. And that’s one core aspect of your data strategy.