Konstantin Artyukhov from Nomad Foods emphasises practical application: "By consistently reviewing market and company developments, we continuously refine our approach - adding new methods and removing ineffective ones. This practical evolution is the most effective way to build skills."

The focus on practical application yields measurable results. As Raghava Krishna from The AA explains: "By creating a self-service platform enriched with advanced analytics, business functions can develop their own models as per their needs. Whether it's improving risk assessments, refining pricing strategies, or optimising operational processes, the potential to innovate through these tools is vast."

Organisations taking a systematic approach to measuring outcomes from their data initiatives are seeing the greatest success. The key lies in establishing clear metrics and tracking mechanisms from the outset.

At CFC, this process starts early. "We systematically track the benefits of every new implementation, documenting expected outcomes and benefits. When new items are added to our backlog, we always start with fundamental questions about purpose and return on investment," explains Nikos Balanis. This approach helps them prioritise initiatives and demonstrate value to the business.

Nomad Foods employs a focused methodology around continuous measurement. "Most important is the mindset here," notes Konstantin Artyukhov. "Our focus is on continuous improvement. Even a 2% improvement each week compounds into significant progress over a year. By merging internal and external data, we identify areas for deeper analysis and concentrate on achieving these incremental gains."