Every decision we make is tied to a data point. While our brain isn’t made of spreadsheets and charts, it does collect data and uses that data to inform our thoughts and emotions. That’s why data is so powerful. As we continue to collect additional data points, we can make better decisions, faster.
This is the same in business. Now… bear with me. The history of your business is your guide to success. Without our learnings from history, it is likely we would make the same bad decision over and over again, while expecting a different result. That is why we have a memory, it is a defense mechanism built into our brain that tells us right from wrong, and why we should feel a certain way based on past experiences.
Imagine if your company only looked at their sales on Mondays. Then, you made decisions for the entire next month or quarter based on Monday’s sales only with no regard to any other data. That would be crazy, right?
Well, one day’s worth of data by itself means nothing. It’s just numbers without context. That’s why it’s important to look at your data every day, along with analysis of trends over a period of time to better tell the story of the business successes and failures. Historical data creates context, which allows you to make better informed decisions for the future.
Sounds simple, right? Well, we believe it should be. But what we also know is that making decisions isn’t easy, especially when you throw decision fatigue into the mix, and it can become even more challenging if you do not have the tools for proper cross-functional analysis to get a full view into your business.
That’s why, we are going to discuss how to build a decision-making strategy and how to turn your decision-making strategy into a results strategy.
Building Your Decision-Making Strategy
With analytic.li, decision fatigue can be lessened and, in some cases, eliminated. analytic.li gives your employees the power to make decisions based on facts, not feelings.
CEOs want to keep customers happy as efficiently as possible. It’s easy to say, but historically these concepts have been at odds.
What if we said, they don’t have to be? That there’s a way to drive your customer’s satisfaction AND improve your efficiency? And, that there’s a software out there that is configurable to your business’s operations?
analytic.li helps your team make better decisions making your customers and bottom line happier. We mine the gaps between your disparate data to surface decisions when your team needs to take action.
To build your decision-making strategy, we recommend breaking down your decisions into three areas:
- 1. Decisions around efficiency - like a food manufacturer being able to keep a line running by quickly knowing who knows how to run a machine when the operator doesn’t show up for work.
- 2. Decisions around customer satisfaction - like an apple and fruit processor keeping its customers happy since it can get orders out on time and in-full thanks to quick staffing changes.
- 3. Decisions that impact culture - like a distributor who can retain employees longer since they added additional, shorter shifts to avoid burnout.
In these cases, the decisions yielded positive results based on good actions taken by the leaders and managers in the organization. Sure, these insights are garnered through a very sophisticated data pipeline – made up of data acquisition, data transformation, data aggregation and data analysis. But, what’s the value of a data pipeline if it doesn’t yield positive results?
At analytic.li, we try to avoid talking about analytics… instead we talk about decisions. We realize when most people say they need “data” and “analytics” what they are really saying they need is “better results… driven by better decisions”.
That’s why we have kept the decision-making process and decision-maker core to who we are.
So, let’s walk through what makes analytic.li unique and how it could impact you and your team of decision-makers.
Pre-analytic.li, most projects sputter out and lose sight of their intended goal based on how hard it is to build the infrastructure required to aggregate data.
At analytic.li, we’ve done the hard work, so you don’t have to. We maintain the infrastructure needed to enable decision-making, including:
- Integrating and aggregating data from disparate sources (e.g. labor, operations, sales, HR) into our data mesh architecture
- Leveraging our library of pre-built metrics
- Utilizing metadata to normalize your data into common business terms
We’ve created the environment for decision-making. This is the first foundational step.
Empowering More Decision-Makers
There are two reasons we see valuable insight locked up at the C-level – it’s not easy to consumer, or there’s no way to limit access to sensitive data.
This isn’t the case at analytic.li. We’ve solved for this through:
- Role-Based Access: This way system administrators can limit what a user can view
- Build Your Own Dashboards: Meaning, power users can leverage the normalized, aggregated data by building out additional dashboards and views.
- “My” Dashboard: Look - not everyone is a power user! So, users can get assigned dashboards that have just what they need to monitor… nothing more.
This means you can expand the number of people involved in decision-making.
Surfacing Decisions within the Decision-Making Window
Typically, meetings are held, or reports are sent weeks after the decision-making window has passed. No one has a chance to recover and it doesn’t feel good for anyone involved.
We obsess about serving decision-makers within the decision-making window in two ways:
- Data Refresh – This is why we can constantly combine the most recent data from your various sources and run it through our analysis.
- Thresholds & Notifications – Look - no one wants another thing to check. This is why thresholds can be enabled to notify a user when a value is out of whack.
Providing reports and dashboards to decision-makers after the fact is a futile exercise. Imagine what would happen to performance… and morale… if you could arm them earlier.
We should point out that this assumes that a decision-maker gets the insight within the decision-making window… which is already extremely rare. And, even if they do, they lack historical trends or themes to know whether the current performance is normal or a fluke.
We don’t just surface the decision needing to be made within the decision-making window, we can provide context around whether this is normal or not.
This gives your decision makers a leg up.
Aligning Your Decision Strategy to Your Results Strategy
It’s time to flip the script and talk results... not data.
Let’s be clear: analytics is hard. It is meticulous, time-consuming, and, at times, thankless work. It requires a significant investment in infrastructure, appreciating and adding new skills to your team, and a ridiculous amount of data scrubbing, validation and integrity.
It’s the amount of work “behind the scenes” that makes most of us in analytics want to tell you how the clock works as opposed to telling you the time.
But here’s the truth: no one really cares about data. Or insights for that matter. This may be a bit harsh but follow us on this: What people care about are results... positive or negative. Results that have been made via decisions. Decisions that have been made via insights. And insights that have been made via data.
At analytic.li, we do our best to think about how we align to a CEO’s results strategy... not just an analytics strategy.
CEOs are responsible for results. CEOs are responsible for the financial health of their business, the culture of the organization and the happiness of their customers. There’s more - but this is a blog not a book...!
CEOs are not alone in these responsibilities; they have teams of people who share in them. These teams are the ones making the decisions...based off the insights... based off the data.
analytic.li is the bridge in the gap between insight and action. Our platform enables your employees to make the right decision at the right time with the right data, while aligning the decision-making strategy to the results strategy.
That's Why We're Here
At analytic.li, we uniquely understand the need for manufacturers and distributors to build a decision-making and results strategy. After all, that is the foundation of the analytic.li platform.
With our first-ever, cross-functional labor efficiency and worker productivity platform we break down data barriers and organizational barriers to set up operations managers for success. This means businesses can arm their leaders with real-time insights by alerting leaders in all departments of staffing shortages, labor overages, and productivity trends to better manage their organizations.
If you’d like to learn more about ways to build your decision-making strategy or discuss how analytic.li will work for your organization, reach out to us. We’re eager to connect with you. If now is not the time to consider new software but you liked what you read here, subscribe to our blog below.
To learn more about the value of good decisions, click here.