Empowering UK business leaders with greater truth and certainty from their data.
The global pandemic has raised the expectation for decision-makers to be able to explain or justify their decisions. This has exposed the vital need for the decision-making process to be re-engineered, if critical, contemporary measures of business performance, such as, revenue, cost, risk, quality, service and speed, are to be improved.
More importantly, it has amplified the critical role which data plays in rethinking the way decisions are made, whether this be human or machine-led.
This was the basis for TrueCue’s collaboration with the IoD – to provide IoD members with unparalleled access to industry leading knowledge, guidance and expertise in the field of data and analytics. Enabling the UK’s director workforce to develop their data and analytical skills, will be critical to their decision-making, as organisations try to bounce back from the pandemic, build resilience and create a sustainable future.
Established in 1903 and having received a Royal Charter in 1906, the IoD has years of experience in supporting, representing and setting standards for business leaders nationwide. Its 20,000 members across the UK and Europe are participating in a range of training and networking opportunities to achieve the renowned Charter Director qualification, helping them to hone their skillsets and reach their full potential as business leaders.
By collaborating with TrueCue, the IoD will enhance this proposition further by offering free, word-class learning opportunities on data and analytics, which is an area that has not previously been provided to members.
To achieve this, TrueCue have been working with the IoD to develop a series of data and analytics workshops. Forming part of the IoD’s internationally renowned Professional Director Series, the workshops will also support the IoD’s Director Competency Framework.
Free to access for IoD’s members, the workshops have been designed to improve their members’ learning and understanding on how to create a data and analytics strategy, aligned to the needs of the business. The workshops will also help business leaders to re-orientate their organisations towards a more data-driven approach, in support of their transformation initiatives into a digital business.
What is the IoD Director Competency Framework?
Designed to promote and champion the highest standards of professional competence on the part of directors and equivalent leaders of companies and other organisations, it is the only framework of its kind for directors.
Developed based on consultation with high-performing directors and boards, alongside research and best practice distilled from the IoD’s extensive experience of working with people in senior management roles and leaders around the world for more than 110 years, the framework sets out the skills, knowledge and mind-set that a director needs to perform effectively as a board member.
Within each of the three dimensions (Knowledge, Skills and Mind-Set) you’ll discover a set of core competencies and actionable standards enabling directors to assess their strengths, identify areas for performance improvement and plan their professional development.
Being able to effectively use and analyse information is a core competency for any modern-day Director, and the workshops which TrueCue will be delivering to the IoD’s members, will ensure the UK’s business leaders gain the necessary skills required to transform their data into actionable business value.
As part of this collaboration, TrueCue will also be offering IoD members the chance to complete their live benchmark, allowing them to compare their current level of data and analytics maturity with industry peers.
Everyone who completes the assessment will receive a free personalised report, which provides insight into their organisation’s current level of maturity and how this aligns and compares with IoD members. TrueCue will then provide actionable next steps on how they can improve their data and analytics maturity, addressing the areas of low maturity which require most improvement.
The corresponding CPD sessions will provide one such opportunity for members to improve their learning and understanding on how to create a data and analytics strategy, and re-orientate towards a more data-driven approach, in support of their transformation initiatives into a digital business.
The findings from the benchmark will also be used to produce ‘The Data-Driven Director Annual Report’, with the first such report due to be released in late May 2021.
To celebrate the launch of the collaboration, TrueCue and the IoD are hosting a live online event on Friday 21st May, on the theme of ‘Data for good: why a data strategy is critical to post-Covid recovery.’ The event will feature a keynote from Sir Ian Diamond, the UK’s National Statistician, and a live panel discussion, with a stellar lineup of the UK’s top data and analytics evangelists.
Commenting on the collaboration, James Don-Carolis, Managing Director at TrueCue says:
“We are delighted to be collaborating with the IoD, which has demonstrated unwavering commitment to business leaders nationwide, facilitating continuous improvement across the spectrum. This alignment will be particularly critical in the current climate, with economic uncertainty making it problematic for organisations to get a full sense of what lies ahead. Directors need greater direction, knowledge and insight to strengthen their position in an increasingly digitalised future.”
Don-Carolis, continues, “Through the collaboration, we want to empower business leaders with greater truth and certainty from their data. We firmly believe having access to reliable, trustworthy insights is fundamental to success, particularly when it comes to improving the decision-making process. In fact, in a recent IoD survey, members rated digital transformation and data governance in their top five development priorities.
“But the reality is that many organisations struggle to improve their data and analytics maturity because any technology investments are typically not supported by adoption of data and analytics across the business. This is best exemplified by research from Gartner, which found that 73% of mid-sized organisations are still labelled as having low data and analytics maturity.1
“To help combat this shortfall, the CPD sessions will combine expert knowledge from industry professionals covering a wide range of topics around data and analytics, including data, strategy, process, platforms, analysis, and culture and skills. Ultimately, achieving data and analytics maturity is not a ‘single-shot’ solution, meaning business leaders must assess how data and analytics is viewed and conducted across the entire organisation.”
“The pandemic has undoubtedly accelerated the pace of digital transformation across the globe and directors are hungrier than ever before for a new data and analytics culture. With this in mind, directors and senior executives must take active steps to drive the adoption of data and analytics from the top down, while arming employees with the right tools and training to leverage maximum business value from their data.”
James concludes, “By leveraging investments made into digital initiatives and making conscious strides to improving their data and analytics maturity, directors will be better placed to make critical decisions to guide them back to growth, build resilience and create a sustainable future.”
To learn more about our launch event and to register your free place, click here.
Luke is the Head of all things marketing at TrueCue. With an eclectic track record in planning and implementing comprehensive B2B and B2C growth marketing strategy, across a multitude of industries, including tech, music, travel and education, Luke loves supporting the analytics community with good information, good data and the capacity to derive good decisions, through the lens of TrueCue.