With endless amounts of data available to business leaders – how can you make use of it without drowning? We want to help you get the most out of your data.
Let’s start with the all important questions. Any questions you ask should be aligned with your business objectives, so you are using the data to help you answer what matters most. You could think about this from a couple of angles; firstly to give your investors the information they are most interested in, secondly you can use insights for effective management. But, where to start? As promised, check out these 8 awesome example questions…
They could be performance-based:
- What’s working well? In other words, what should you continue or double down on
- What’s not working well? In other words, what should you review, critique, test and stop or change
They could be trend-based:
- How has our sales performance changed over time?
- How does our sales performance vary by location?
They could be channel-based:
- Which marketing channels are delivering the highest returns?
- Which marketing channels have the highest engagement?
They could be cost or ROI-based:
- Where are we getting the best returns?
- Which marketing channels deliver the most leads, conversions or sales?
When you start asking questions that are aligned with your business objectives, you will find the data you have becomes powerful in helping you demonstrate performance against your goals and ultimately create value over confusion for yourself and your team and stakeholders. We hope these questions have inspired you to think – which are relevant for me and my goals? If you have any questions for us, please feel free to email firstname.lastname@example.org.