Simple Analytics

Though a lot of us know that data analytics can really help your decision making skills, a very few number of people use past data to derive helpful information (I am not talking about complex statistical methods or anything like that but simple ones).

I have seen companies going through the same set of problems again and again (like a vicious circle), in spite of having all the data in hand, which can help them with new insights, provide visibility into the root causes, help them setup relevant process etc but they fail to take advantage of data analytics.

If you have bunch of data, doesn't matter which departments (Sales, Marketing, Finance, Project Management), put them all in an excel sheet and try to view the data in different dimensions (sum, average, relative comparison, by category etc) I am sure you will get insights you didn’t expect. Stop the temptation to make quick calls and take some time to analyse the data you have.

Most companies would have the data to answer these questions, but they won’t know the answer for it because they miss simple analytics

1.       What % of your customers are costing you money than yielding you profits? Do you see trend?

2.       Top 5 reasons for your success last year, last quarter? Can you now enhance those further?

3.       Profits margins by product line? Is one eating into the other?

4.       Attrition % in your top 20% of employees vs middle 70% vs bottom 10%

5.   % of sales lost due to poor salesmanship, % lost on internal delays, % lost on price, % lost on incompetency  

6.       Top 3 reasons you lost to competition? Can you narrow the gap now?

7.       Top 3 reasons customer bought from you? Can you repeat now?

8.       Efficiency vs Effectiveness  (On-time vs Quality)

9.       Return on training investments? Quality of training? % relevance to business impact?

10.   Do you have a differentiator compared to competition? How much? 2 fold, 5 fold, 10 fold?

11.   Lead generation to conversion % company-level, service-wise, product-wise, geo-wise, resource-wise

12.   Company-wide process compliance %?

13.  % of revenue leakage across the board? Late entry into the market / inefficient process / execution challenges

Insights are right in front of you!! Try Simple Analytics!!!