Wanting to know everything when you are doing data analysis can actually detrimental getting anything done.
“What if we…”
“Can we just…”
How often have you heard these phrases when undertaking an analysis project! There is a danger in striving for utopia and adding more questions to delve deeper into the data to uncover a missed nugget of insight.
Oddly enough, the deeper you delve, the numbers often become too small to be significant. Scalable, impactful business decisions can be made when the insight is good enough. It does not need to be perfect. The themes that will be identified at 75% be the same at 100%.
You don’t need to boil the ocean to identify what data-driven decisions you can make to grow your business.
So at the start of an analysis project, define what you want to know, why you want to know it and how you will use the insight gathered to inform business decisions. Completing analysis against this ensures you get the right amount of insight to make informed decisions.
Today’s tip: Look at the insight questions you have on the table today and apply the context and application to it to ensure it’s an analysis priority for your business.