Out for a fall run through a nearby forest preserve, I was struck by how peaceful and energizing the experience was. Thoughts of running my next marathon started running through my mind (pun intended). But then I started thinking—are there any parallels between running a marathon and building a data strategy?
Why, yes there are! Building a data strategy shares many similarities with running a marathon. Both require careful planning, steady pacing, and endurance. In this blog, I want to share how the parallels between these two journeys can help your financial institution approach data initiatives with confidence and clarity.
Setting Clear Goals
Marathon: Decide on your target finish time or personal achievement. This will vary for everyone.
Data Strategy: Define specific business objectives, such as improving customer insights or optimizing operations. This will also be unique and different for each financial institution.
Building Endurance and Skills
Marathon: Consistent training builds both physical endurance and mental resilience.
Data Strategy: Continuous data collection, cleaning, and analysis develop organizational data maturity and literacy.
Monitoring Progress
Marathon: Track your pace and adjust as needed during training and on race day.
Data Strategy: Use metrics and KPIs to monitor data quality, usage, and impact on business outcomes.
Adaptability and Resilience
Marathon: Overcome setbacks like fatigue, weather, or minor injuries.
Data Strategy: Address challenges such as data silos, quality issues, or shifting business needs with agility.
Marathon: Balance effort over the race duration to avoid burnout. Fight the urge to start too quickly—saving energy ensures you reach the finish line strong.
Data Strategy: Allocate resources wisely, prioritize initiatives, and manage data projects over time.
Celebrate Milestones
Marathon: During training, reward yourself for hitting milestones—8 miles, 13.1 miles, 18 miles—each one bringing you closer to race day. Crossing the finish line is the ultimate reward for your effort and dedication.
Data Strategy: Achieving early wins or delivering valuable insights builds momentum and stakeholder confidence.
Continuous Improvement
Marathon: Reflect on performance and refine training for future races.
Data Strategy: Regularly review and refine data processes to enhance insights and long-term value delivery.
Success in both endeavors requires strategic planning, sustained effort, adaptability, and a focus on long-term goals. Like training for a marathon, building a high-impact data strategy is a journey—not a sprint. It takes commitment, structure, and the right guidance to stay on course and reach your finish line.
At Lodestar, we help financial institutions do just that. We start by understanding where you are today—your data, your goals, and your challenges—and build a practical roadmap that fits your organization. From building sound data governance frameworks to implementing reporting and analytics solutions that drive measurable impact, we ensure every step of your data journey leads toward growth, efficiency, and stronger member relationships.
Whether you’re just starting your data strategy or looking to accelerate your progress, Lodestar provides the tools, expertise, and ongoing support you need to go the distance.
Ready to take the first step?
Learn more about Lodestar’s Data Strategy Consulting→
Author: Cathy McGoldrick