In the previous blog, Roy had come up with a master plan that would help him regain his image in Leila’s eyes He was extremely excited and had started collecting information online about her that would help him in his plan.
“Hi Roy! You really are sprung, aren’t you?” said Angela, as she walked into his office and saw on his computer pictures of Leila. Hurriedly, Roy stood up, closed the office door and sat close to her. “You need to help me Angela, please” Roy said. He explained he was trying to learn as much as possible as he could about Leila. “How do you want to impress her? What is your game plan? “asked Angela. He described his game plan, to have a double date with Angela and her boyfriend, and him and Leila, hopefully the following week. “Awww!”’ said Angela. “That is perfect it will be my birthday on Thursday. What do you know about her so far?” Roy explained her favorite color, her favorite flowers, the food she enjoys, music, her favorite bottle of wine and that she was the last born in a family of boys. (That was trouble. That means she is used to getting what she wanted.) “Okay, well, all we have to do is figure out what you are going to use and how you are going to use it to get to your point step by step.” Angela said as she grabbed a notebook and pen from the table.
Together they combed through the plan and the best pieces of data they had that they could use for his plan. From the information, they got about Leila they realized the most important piece of the puzzle in his plan would be the meal prepared. This was gotten from all the images she had of her favorite meal on her Facebook page. Next, they discovered that music would be the next priority. This is because Leila enjoyed music, she even had a YouTube page of her singing her favorite songs. Finally, flowers would be the last priority.
In the above scenario, Roy had a lot of data that he could use for his plan but didn’t know what to use and how to use it to his advantage to help him achieve his objective. Like Roy, most companies are not aware of the gold mine that is data. They may not necessarily know what data is important to them or how to interpret it.
That is where Data Fintech comes in. We help companies to refine their data and get the best value. Analyzing data is key when using it to make strategic decisions and it starts with weighting what information is important to help meet the company’s objective and interpret it as well. Like Roy, companies should know what piece of information has more weight and will help them accomplish their goals.
According to Goldman Sachs, companies that are data driven are 5 times more likely to make their strategic decisions faster than their competitors and 2 times more likely to have top quartile performance. According to Thomas Carlyle, “There is so much data available to us, but most data won’t help us succeed”.
If you are looking at data over and over you better be taking away valuable insight every time. If you are constantly looking at data that isn’t leading to strategic action stop wasting your time and look for more Actionable Analytics.
Author: Edna Maritim, Marketing Executive