Session 21: Making Data-Based Decisions

You’re probably not making decisions as well as you could (or should) be in your organization. Chances are high that you’re not tracking metrics and letting the data drive your decisions.

Think corporations like Amazon make decisions without data?

In this session I’ll explain why (and how) to make data-based decisions. There are some prime examples from actual conversations to explain the importance of making data-based decisions for your organization.

You can’t afford to leave decisions to gut feelings. Your competition isn’t.

Keep up.

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Session Notes

The last 2 sessions have been dedicated to metrics, why you need them and how to start tracking them and getting data.

Today, I’m going to further this discussion briefly by discussing data-based decisions.

Using data to make decisions is the #1 “why” you start tracking metrics. It’s also a bit of a no-brainer, but you’d be surprised at the number of business owners I’ve talked to that don’t take any metrics in their organization. None. Zero. Nada.

You can’t make data-based decisions without actually having data. Otherwise you’re making decisions based on assumptive data, which is as good a reason as “because I said so…”

I had one business owner that I talked to specifically who had an employee ask for a raise, due to his wife being pregnant. He told me that he had no idea whether or not the employee deserved a raise, because there were no metrics being taken at all.

The alternative to making data-based decisions is making “gut-based” decisions, or even just “whim” decisions.

Do you think Amazon makes gut-based decisions? Absolutely not. I recently talked with someone who was telling me about Amazon hiring a meteorologist to better make decisions regarding logistics and delivery. They have too much at stake to leave logistics to chance.

So, the got someone who can gather and interpret data to make predictive and data-based decisions.

What kind of competitive advantage are you missing out on by not tracking data? By not making data-based decisions? You can bet other organizations are, and they’re leaving you behind.

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