Updated: Feb 4, 2021
Is your business set up to measure the success (or not) of initiatives you put in place to drive growth or efficiencies? Making decisions or changes with no tracking or ability for evaluation of the impact of initiative leaves you open to wonder, what is working and how to improve. You can only speculate and assume an association between change and business performance.
A data mindset embeds a cyclical ‘measure and improve’ methodology eliminating speculation.
A favourite quote included in our earlier blog on measurement is this:
“Measurement is the first step that leads to control and eventually to improvement. If you can’t measure something, you can’t understand it. If you can’t understand it, you can’t control it. If you can’t control it, you can’t improve it.” H. James Harrington.
So think about:
What you are measuring
Why you are measuring it
How you are measuring it
And what decisions you will make on the back of it
Today’s tip: Identify 3 things you want to measure in your business and address them against the 4 points above and use these to formulate a measurement plan in your businesses data strategy