A Friendly Reminder - Data Doesn't Matter!
We hear and read so much about the power of data - big data, small data, and the cries for companies to collect more and more data, but why, what for and who really cares? Data for decision-making can be powerful, but for most companies data only becomes an asset for them when it is transformed into information and it only becomes information when it is measuring something meaningful for the business! My message for businesses is simple - stop and think - what data do you really need to collect to effectively run your business. To help you answer this, take a step back and ask yourself the '4 What' Questions. 1. What are your company’s or department’s goals? 2. What information do you need to assess or track your performance against these goals? 3. What data is needed to generate this information? 4. What is the best way to collect this data? Once you've answered the '4 What' questions, you are well on your way to transforming your data into a powerful asset - information. Good luck!