How metrics and data collection is used in business as a competitive advantage.
Too many metrics and we miss important details and don’t really use the findings. Too little metrics and we lose out on creating an early warning system to find problems and opportunities. Time matters, and a business that uses time well has a competitive advantage. Jessica Dewell and Simon Barry talk about time, metrics, and business opportunity.
Starting the conversation…
- What makes metrics important?
- When do we need to know the data?
- How do we use and communicate the data?
Host: Jessica Dewell
Cohost: Simon Barry
What You Will Hear:
Data and human elements.
Counterbalance our business weaknesses.
Metrics validate AND test (experiment with) our initiatives.
There are times we can get too specific.
Data and leadership styles (both leadership and management skills).
Stop and take stock before moving forward. Be guided by metrics.
Know why (and what) data is crucial.
Stay on mission and relate to the problems being solved.
Commitment to a failing solution (because of time and money invested) is a fast way to lose more money.
Scenario + high level look at a business problem.
Share information more between departments.
Notable & Quotable:
Jessica Dewell: Fly by the seat of our pants … as long as we know where we are going.
Simon Barry: Interpret data carefully to get a complete view of what is actually happening.
Simon Barry: It’s much easier to measure data.
Jessica Dewell: To have a business, we need enough customers that have the problem we are solving.
Simon Barry: Be the one at the front with sleeves rolled up and lead your team.
Simon Barry: Flip the script and switch from talking to listening.
Simon Barry: We tripled our results by talking and listening to each other.
Jessica Dewell: Use the metrics that match our company’s mission to use if on or off track.
Simon Barry: Know when to buckle down and say ‘We need to fix this.’
Simon Barry: Communication and sharing metrics and data improve business.
Jessica Dewell: Keep seeking perspective by bringing data and metrics to each department (and listen to their reactions).
Tags: validation, data, research, metrics, leadership, business, operations, skills, reflection, communication, efficiency, focus, relevancy, performance, accountability