Startup Funding Espresso Building Trust With Data
Building Trust With Data Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. In building a data business you\u2019ll need to establish confidence in the data you are collecting and using. It\u2019s often the case, the team will not trust the data at first. Here are some key steps to consider in building trust with data: Establish a level of data literacy with the team so everyone understands the data. The team may not know what to expect and therefore they mistrust it. To overcome this, establish a baseline of data and metrics for your team and introduce new team members to that baseline data set. The data may not match what the team expects. To overcome this, show the data methodology and the results from the tests to establish trust in the data. The team may not trust the data analyst. To overcome this build rapport between the data analyst and the rest of the team.\xa0 The current data set has too many holes in it. To overcome this take the data set and rebuild it one component at a time. Establish some overall data metrics to build the team\u2019s trust in the data. The data set will never be perfect but remember you are seeking excellence, not perfection. \xa0 Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. Let\u2019s go startup something today. _________________________________________________________ For more episodes from Investor Connect, please visit the site at: \xa0 Check out our other podcasts here: \xa0 For Investors check out: \xa0 For Startups check out: \xa0 For eGuides check out: \xa0 For upcoming Events, check out \xa0\xa0 For Feedback please contact info@tencapital.group\xa0\xa0\xa0 Please , share, and leave a review. Music courtesy of .