If you have lots of data in lots of places, but aren’t putting those data sources together to learn how the business works, you’re wasting a lot of money.
It’s fine to know how much stuff you made last month, or how much you sold, or the characteristics or your customer base. But until you learn how those things relate to one another, you’re missing out on information that enables you to make your business bigger and more profitable.
You don’t need to take a big, expensive leap of faith to benefit from data analytics.
Building substantial value from data analytics is a lot like knitting a sweater; the big task is made up of many little steps. Organizations that have big successes start with small, low-risk projects and gradually increase the number and scale as they build knowledge and confidence.
If you’ve got a lot of reports that tell you what’s happening, but not what to do about it, it’s time to consider combining the data sources behind those reports.
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