Article Round-Up: Powerful Questions
We know businesses can accelerate their growth by embedding a data mindset and fully utilising data and technology to deliver your business objectives.
The 3 components of a data mindset are:
1. Growth strategy - focus on what you need to 'KNOW'
2. More productive teams - focussing on the 'HOW' to have the right skills to use data & technology
3. Increased efficiency - focussing on 'WHAT' technology and processes are needed to support the 'teams' and 'business applications'
This blog is building on the role of powerful questions to build your growth strategy. Powerful questions are one of the core techniques of leading with a data mindset and are the key to identifying opportunities to grow.
It is worth spending time asking questions to get to the hidden opportunities. As we say in our blog, it’s a bit like being a private investigator of performance. It provides the evidence you need to focus on what you need to do to deliver accelerated growth using data in a strategic way.
Read the full blog here:
The following articles may be useful to help shape how you bring this to life in your own business:
Data based decisioning is not new - we have all been doing it in some form for years, but we are now in a state where there is so much data within reach that businesses are drowning in metrics and often reverting back to decisions on gut instinct, not fact. The solution is not about installing a BI tool to present the vast quantities of data in a visual manner, it is about thinking with a data mindset and asking smarter questions of your data to get to the golden nuggets that unlock hidden opportunities.
The title of this article couldn't be more accurate - 'Your Data Won't Speak Unless You Ask It The Right Data Analysis Questions'.
There is so much data within business owners reach that it can be tempted to just analyse it all and hope to find the wheat from the chaff.
A more efficient and action-oriented approach is to start by defining what you need to know, and why you need to know it. This will focus your analysis to investigate answers that have business relevance and are actionable to a business strategy.
Big data has been a common term in business now for over 15 years but it has largely been in the realm of B2C organisations. B2B businesses can learn from the experiences of their B2C cousins and leverage their data efficiently and impactfully.
HBR talks about one of the components in successful companies being to asking the right questions - the key business questions.
This is fundamental to leading with a data mindset. Start with what you need and want to know to drive your business, then use data to understand the opportunity therein. Using data throughout the planning process, and empowering your teams to make informed decisions using data insight, gives the best chance of growth.
We work with businesses to make their teams more productive by embedding data mindset to use data and technology to deliver against the business growth objectives.
We always start with understanding your needs and a discovery call is the best way to do that - drop me line firstname.lastname@example.org or fill out the contact form on our website.