In this episode of the Definitely, Maybe Agile podcast, Peter Maddison and David Sharrock discuss a fascinating case study of Nike's digital transformation gone awry, resulting in a $25 billion loss and 32% market share decline over three years. They explore the pitfalls of over-relying on data-driven decision-making while neglecting other crucial aspects of business strategy and customer engagement.
This week´s takeaways:
- Data-driven decision-making is valuable, but you need the right data. Companies need to balance quantitative data with qualitative insights and intuition.
- Optimizing for existing customers isn't enough for growth. Businesses must also focus on attracting new customers and exploring adjacent markets.
- Organizational culture plays a critical role in transformation efforts. Companies need to foster an environment where employees feel empowered to speak up and challenge prevailing narratives.
- Not everything that matters can be easily measured. Organizations should find ways to understand and manage important factors, even if they are difficult to quantify, rather than ignoring them in favor of easily measurable metrics.
Resources_
Nike’s $25B blunder shows us the limits of “data-driven- https://uxdesign.cc/nikes-25b-blunder-shows-us-the-limits-of-data-driven-ad30b6e3d938
