#43 Etsy’s Chu Cheng Hsieh on Using Data to Develop a Thriving Marketplace

As the world continues to fill with impersonal, factory-machined goods, so increases the desire to see and feel more human creativity in the items we use in our lives. Etsy, a community marketplace for creative goods, was designed to help people sell their unique and homemade items online. The company continues to innovate and transform the small-business world, leading by focusing on innovation in their technology.

Today’s guest, Chu-Cheng Hsieh, is the first Chief Data Officer at Etsy. On this episode, Chu-Cheng Hsieh joins Cindi to discuss his unique perspective on helping build a data-driven organization from the ground up and how he’s fostered a culture of experimentation that has led to rapid growth and transformation within the company. He also dives into trends such as machine learning and data observability, and explains some of the most helpful mental frameworks he’s learned in his life and career.

Key Takeaways
Check human intuition with data: Your gut feeling might be right, but in today’s world it’s critical to remember the importance of being able to back up your thinking and your decisions with facts. Hsieh emphasizes the importance of trusting the data that’s in front of you, even if the answer goes against decades of personal experience.
Create a ‘regret minimization framework’: Popularized by Jeff Bezos, the ‘regret minimization framework’ is a way to help you more clearly define what career decisions you should make. It encourages the thinker to imagine being at the end of their life, looking back at what they’ve done, and asking themselves, “Is that really the life story I want to have?”
Invest in insights: Hsieh shares that “You don't want to judge your success based on just [the] outcome. You should judge your success based on the decision quality.” By investing in thoughtful decision-making, you can increase the probability of success, even when you don’t have all the facts or data.

Checkout more episodes - https://www.thoughtspot.com/data-chief/podcast

Видео #43 Etsy’s Chu Cheng Hsieh on Using Data to Develop a Thriving Marketplace канала ThoughtSpot