What’s the purpose of data collection?
According to Anthony Algmin, a luminary in the art of data leadership, “There is no value in data unless you’re creating change.” For that reason, leaders should continually ask, “What do we need to change now, and what metrics do we need to focus attention on to spur that change?”
“Data informs what we can understand about what is going on in a business. It’s the closest thing we have to the truth. But it’s what you do with that understanding. Data is a change agent.”
– Anthony Algmin, Algmin Data Leadership
Anthony is currently the Convergence Platform Program Lead at AbbVie, where his team is developing a massive data analytics platform to transform how R&D develops new medicines. Anthony has led data transformations in private equity and across many sectors, working as a data architect, chief data officer, author, and entrepreneur. He hosts the podcast Data Leadership Lessons, teaches courses at DATAVERSITY (worth checking out at dataversity.net), and authored the book Data Leadership: Stop Talking About Data and Start Making an Impact!.
Watch the YouTube video, listen to the podcast, or read the highlights below.
Key Takeaways
- Order matters. Does data drive your decisions—or is it used to justify them?
- Data is complex. Start with the basics and use quick wins to stimulate transformation.
- Define desired impacts and ROI before starting a data initiative.
Data-Justified Is Not the Same as Data-Driven
“Being data-driven means being curious about the world around you, seeing what the data is telling you. If you already have a hard view, the data isn’t going to tell you anything.” – Anthony Algmin
Much like using a hammer as a paperweight, companies routinely misuse their data.
Do you tend to seek out data that supports your decisions—or do you start with the data and let the insights drive your decisions?
Behavioral economics shows that humans are susceptible to bias and blind spots (Deloitte, 2012). Recognizing this, leaders should anchor decisions in reality by suspending judgment and examining the data first. Order of operations often determines whether data leads to progress or missteps.
In a Complex Data Environment, Start with the Basics
“It starts with a flashlight. Data shines a light; it helps you better understand the core nature of your business.” – Anthony Algmin
From data warehouses and lakehouses to AI, ML, governance, and clean rooms, the modern data landscape is crowded with tools and jargon. While new technologies make data more accessible, successful solutions still require intention, effort, and strong fundamentals.
“If you don’t have really clean transactional sales, customer, vendor, and inventory data—the basics of your business—I’m not going to entrust that to AI or machine learning.” – Anthony Algmin
Anthony recommends starting with data quality and health. Improving the processes that generate reliable customer, sales, and vendor data creates a foundation for scalable analytics.
(Source: New Vantage Partners, 2022)
Surfacing reports that expose data gaps increases accountability and improves compliance. Once clean, data becomes easier to integrate into a data warehouse or lake and unlocks more advanced use cases.
Start Data Projects by Defining the ROI
“If you can’t quantify the cost and desired ROI, that’s a problem. Data initiatives must be rooted in reality.” – Anthony Algmin
Successful data initiatives begin with strategic scoping: defining cost, duration, outcomes, and ROI. Leaders should start with organizational goals and ask what they want to change—whether that’s managing risk, reducing cost, driving innovation, or increasing revenue.
Clear objectives keep projects aligned and prevent wasted effort, turning BI initiatives into true value-creating investments.
Connect with Anthony
Anthony welcomes conversation and can be reached on LinkedIn. He is currently revising his book to be more accessible and executive-focused.
About Blue Margin
Blue Margin helps PE and mid-market companies quickly convert data into automated dashboards—the most efficient way to create company-wide accountability to the growth plan. We call it The Dashboard Effect, the title of our book and podcast. Our mission is to accelerate your value creation plan.
