Manager, Director, President, Executive, “Boss”. Whatever your title may be, one of your primary responsibilities is to be the “decision maker”. It can be argued that is why you are there in the first place - to make the decisions others can’t or won’t make. These decisions often have a wide range of impact on your team, department, and even your entire organization. You make these decisions using a combination of your experience and knowledge. For tougher decisions you may even rely on your “gut” to lead you down the right path. There is an additional decision making tool you can also use to help make the decision process more effective and easier: DATA.
Being the decision maker is a tough job. It is why so few want it and why even less actually find success. However analyzing the data your business generates every day can help you find the answers you need. Let’s explore how:
Finance - Are you wondering how to make cash flow more consistent? How about deciding how much money each department should get? Comparing data from previous years and quarters will give you a deep understand of how to better manage your organization's finances.
Operational Efficiency - Wondering why one shift seems to always outperform the others? What about where you can eliminate waste? Analyze how your organization functions to see what practices are working and where improvements can be made.
Marketing - Are you getting enough leads from your current email marketing campaign? Should you invest more in Facebook or Twitter ads? Review current and past marketing numbers to determine if you are targeting the right audience in your email marketing and if buying ads on ANY platform is even necessary.
Sales - Are we converting the right customers? Are there verticals we should be focusing on that we are not? Do external analyses to understand your position in the industry and see what opportunities are available for your organization.
Customer Engagement and Retention - Do we do enough to keep are current customers happy? Are they familiar with everything we provide? Conduct surveys and analyze the answers to determine if you are doing enough to keep your current customers engaged.
Human Resources - How happy are our employees? Do they feel empowered and excited to work for this organization? Another opportunity to conduct surveys. Internal surveys give you valuable insights on the internal “health” of your organization and what steps you can take to make improvements.
These are just several examples of the ways data can ease the process of making decisions. Any answer your business needs can be found in the data being generated on a daily basis.
Every day you make dozens of decisions. Data in conjunction with your knowledge, experience, and gut can make the decision making process more effective and efficient. Be more confident with the decisions you make and plan for a better future. If you need help getting started with a custom data plan, contact our team of Solution Seekers to schedule a FREE consultation.