Inundated with Data? How to Increase the Value of Your Data

If you want to have your business doing better, then your data needs to come alive.  I Just finished up a client project with my Consultancy students and it never ceases to amaze me just how much data the client has, yet becoming informed enough to make solid business decisions seems to be a struggle; here why.  Data talks and companies today are inundated with just about everything and nothing at the same time.

It has been my experience that if you simply pull data and see the “ups and downs” there is little to be gained and you are left to wonder “Where do I begin?”   This is by far the biggest obstacle to overcome.  So lets begin with answering the question.  How does my data become more valuable?   

 

Before I start to look, sort and analyze the data I sit with the leadership and their team and decide what do you want to know?  Data, when properly organized, becomes information.  The information when analyzed and cross-tabulated is the knowledge/metrics we use to make good business decisions.   Over time, know-how is the destination every leader is seeking.  The business and external environment are always changing so the more valuable your make your data, the better your company will perform.