Turning Data Into Profitable Insight

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To collect the right data, you must ask the right questions. When you ask the right questions, you will get the right data.

‘To best leverage analytics, first assess your organization’s analytics maturity.’

‘Effective influencing can help accelerate the execution of any initiative.’

‘Prioritization is a necessary process, which, when done democratically can foster innovation while keeping the organization focused on the big rocks.’

‘Data doesn’t speak; it responds.’

‘Coordination across groups can save on redundancy and create a harmonious organization in which teams build on each other’s success.’

‘If you are a business leader, define your measures of success, uncover drivers of those success metrics, and orient your entire team toward them.’

‘Don’t expect data to reveal insights; instead, ask the right questions to uncover the insights.’

‘If you are a business manager, ask the right questions of data and learn to do simple analytics.’

‘If you are an analytics leader, lay out an analytics agenda aligned to the success metrics and make data access easy across the organization.’

‘Cultivate and motivate your team; inspired team members will go beyond their mandate to deliver.’

‘Think big– what metric can you move with the resources you currently have?’

‘Make decisions based on data; you will consistently drive results if you do.’

Source

Piyanka Jain and Puneet Sharma (2015). Behind Every Good Decision: How Anyone Can Use Business Analytics to Turn Data into Profitable Insight

10 Essentials For Achieving Success, According To Martha Stewart

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‘Build your business around something that you love-something that is inherently and endlessly interesting to you.’

‘Focus your attention and creativity on basic things, things that people need and want. Then look for ways to enlarge, improve, and enhance your Big Idea.’

‘Create a business plan that allows you to stay true to your Big Idea but help you focus on the details. Then remain flexible enough to zoom in or out on the vital aspects of your enterprise as your business grows.’

‘By sharing your knowledge about your product or service with your customers, you create a deep connection that will help you learn how best to build and manage your business.’

‘Use smart, cost-effective promotional techniques that will arrest the eye, tug at the heart, and convey what is unique and special about your business or service.’

‘Quality should be placed at the top of your list of priorities, and it should remain there. Quality is something you should strive for in every decision, every day.’

‘Seek out and hire employees who are brimming with talent, energy, integrity, optimism, generosity. Search for advisors and partners who complement your skills and understand your ideals.’

‘When faced with a business challenge, evaluate or assess the situation, gather the good things in sight, abandon the bad, clear your mind, and move on. Focus on the positive. Stay in control, and never panic.’

‘In business, there’s a difference between a risk and change. A well-calculated risk may very well end up as an investment in your business. A careless change can cause it to crumble. And when an opportunity presents itself, never assume it will be your last.’

‘Listen intently, learn new things every day, be willing to innovate, and become an authority your customers will trust. As an entrepreneur, you will find great joy and satisfaction in making your customers’ lives easier, more meaningful, and more beautiful.’

Source

Martha Stewart (2005). The Martha Rules: 10 Essentials for Achieving Success as You Start, Build, or Manage a Business