At a recent conference one of the speakers presented the following syllogism:
- What drives a company –> sales
- What drives sales –> marketing
- What drives marketing –> data
The implication is clear, ultimately data drives a company. Unfortunately, this thinking is all too prevalent in the business world (perhaps, just the world, leave business out of it).
It is also wrong. Actually, it is not just wrong, it is confusing cause with effect. Data is not the cause of company activity, it is the effect of it.
Instead, I would like to posit the following syllogism:
- What drives a company –> profit
- What drives profit –> creating value for customers
- What drives value for customers –> innovation
- What drives innovation –> knowledge
- What drives knowledge –> relationships (conversations)
In my chain it is relationships that ultimately drive a company.