How do you make business decisions? It’s an important question to ask yourself, because in many cases the answer will be that you don’t really know, because it’s all ad-hoc and based on what you think or feel is right, rather than the reality your company operates in.
Making correct business decisions, based on good data from the real world used to be an expensive and complicated process, available only to the really large companies, able to afford customized market research.
But this has all changed in recent years. The question is: Did you notice?
Data everywhere!
Nowadays every company has access to enormous amounts of real world data about their operations, about their customers and about what they’re selling. If you don’t, it’s something that you really should look into.
Every day your website produces valuable data. There is data from your resource planning system. Your accounting department sits on a treasure trove of data, as do your employees.
The only problem is getting it out and using it.
Simple analysis, for everyone
Luckily there are great tools available that will let you collect and analyze data from all kinds of sources. Actually, it’s mostly automatic, so you won’t have to do any of the heavy lifting. It all happens in the background.
With inexpensive, yet powerful analysis tools, such as Google Data Studio it can all be collected, interpreted and then distilled into ready-made reports that you can either create yourself or have someone build for you, to exactly match your needs.
So, are you making data-driven decisions? If not, it’s time to start now!