Accelerated growth with a Data Mindset
A data mindset is about using data in your business to inform decision making.
Leading your business to determine what you need to know and what you need to do to deliver accelerated growth by using data in a strategic way.
You will be able to focus on where the biggest growth potential is, whilst improving efficiencies and impact of your team.
Identify opportunities to grow
Making your team more productive
Lead your business with powerful questions to identify opportunities to accelerate growth
Where is your growth going to come from?
Asking powerful questions to determine where the biggest opportunities are will help to build your growth strategy.
Start by thinking about what you need to know and why? to focus on uncovering new opportunities that will have the most impact on your business.
By applying a data mindset will enable better decision-making by using data and insight to identifying and quantifying opportunities for accelerated growth.
Powerful question could be:
How do your customers use your product or service?
What would an increase in sales be if the frequency of purchase increased?
How do prospects filter down your sales funnel?
What growth would you achieve if conversion rates increased?
Which marketing channels generate your most valuable customers?
What ROI could be delivered if the media mix was changed?
INCREASING BASKET VALUE
How are products bought together?
What would the increase in basket value be if customers bought one more thing per transaction?
Making your team more productive by enabling them with the right tools
Your people are fundamental to your successful growth.
To make your teams more productive and the opportunities to grow a reality, determine what you need to do:
to enable your business operationally to increase efficiencies
to apply cultural changes and ways of working to increase the impact
Are your people working efficiently with the data & technology available to support them to do their job?
Increase efficiencies by:
championing data as a valuable asset
improving data quality
making data available and accessible
training on technical capabilities
establishing governance and control
By identifying the current pain points and the efficiencies to be gained, you can develop a prioritised roadmap to implement tools, processes and technology to be more efficient.
Do your people quantify the impact they are making to the business and are they working to continuously improve on it?
By embedding strategic data tools, techniques, metrics and insight into your ways of working your people will be impact-driven.
Creating impact by:
improving data literacy
using data to plan and model outcomes
optimise through test & learn
tell compelling stories
make informed decisions