Data is no longer just an advantage—it's the battleground where businesses win or lose.
During a lively recent #stratChat, we explored why companies like Netflix thrived while giants like Blockbuster crumbled. The simple truth? Netflix leveraged data in ways their competitors couldn't even imagine.
The Netflix vs. Blockbuster Story: More Than Just Streaming
Many people think Netflix beat Blockbuster by mailing DVDs and launching a streaming service first. But the real story lies deeper: Netflix understood the power of data.
They tracked where viewers stopped watching a show. They learned how often a "plot twist" was needed to keep you engaged. They ran competitions to improve recommendation algorithms with real customer behaviour, not guesses.
This data-centric approach allowed Netflix to:
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Make smarter bets on what original content to produce.
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Engage users longer with tailored recommendations.
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Iterate faster than traditional competitors bogged down by old-school instincts and limited insights.
Meanwhile, Blockbuster was addicted to late fees and short-term profits—and missed the seismic shift happening underneath them.
Why Companies Still Ignore Their Data
Shockingly, many organisations today still treat data as an afterthought. Why?
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Legacy mindsets: Decisions made on intuition, not evidence.
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Data silos: Critical insights trapped in different departments.
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Lack of actionable frameworks: Leaders are overwhelmed by "big data" without tools to turn it into strategic action.
As Chris Fox, Founder of StratNavApp.com, put it: "Most organisations throw away more data than they keep. And the data they do keep? They often fail to use it to make better decisions."
How to Embed Data-Driven Decision-Making in Your Business
You don't need to be Netflix or Amazon to win with data. Here’s how you can start today:
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Capture More Diverse Data
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It's not just about more data. It's about different data: customer behaviour, feedback, operational metrics.
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Blend internal and external sources for richer insights.
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Turn Data Into Stories
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Raw numbers don't drive action—stories do.
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Use data to frame strategic narratives that engage your team and guide decision-making.
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Create Feedback Loops
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Regularly analyse what's working and what's not.
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Build "review and adapt" cycles directly into your strategic planning processes.
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Democratise Access to Insights
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Make key data visible across teams, not hoarded by IT or senior leadership.
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Tools like StratNavApp.com help structure and share insights organisation-wide.
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Invest in Data Literacy
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Help every leader and team member understand and use data.
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It's no longer a "tech skill"—it's a survival skill.
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Final Thought: Data Is the New Oil — But Only If You Refine It
Collecting data isn't enough. Acting on it strategically is what separates the disruptors from the disrupted.
If you want to future-proof your strategy with powerful data-driven insights:
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📅 Book a call at https://calendly.com/chriscfox/discuss-your-needs
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🔍 Or try StratNavApp.com for free at https://www.stratnavapp.com
Is your business truly leveraging its data—or are you still running on gut feel?
