Data Driven Decisions
Businesses are focused on everything they can do to grow and gain market share. Pivotal to allowing this happen is ensuring that they make informed and shrewd business decisions. This task has become more challenging for decision makers as they have to deal with dynamically changing and complex information sources.
Data-driven decision making (DDDM) involves identifying and collecting quality available data. Then analysing this data to guide informed factual business decisions where needed across the different areas of the business.
More commonly referred to as DATA (either Big or Little), is available to every business to harvest and include into their Data-driven decision-making process. Some of the most frequently used Data sources are:
- Customer Databases
- Website Analytics
- Social Media Analytics
- Market Research
- Business Information Systems
- Point of Sales
As you can image this can be overwhelming and businesses really struggle to know how best to adapt this approach into the business. This is where Carmody Consultancy comes in to support and guide businesses in overcoming this challenge. Adopting a simple process, that takes the complexity out of understanding the Data but also ensures that a comprehensive review is undertaken, gaps identified and closed, and ultimately that informed decisions are gleamed from the gathered Data.
Businesses that incorporate Data Driven Decision Making into their day-to-day workings, instantly start to reap the benefits.
- Reduced Cost – applying insights to decision making throughout the entire business, specifically in the areas of finance, marketing, sales, customers, and employees will enhance efficiency and effectiveness which ultimately will ensure cost savings but equally increase productivity.
- Improved ROI from Marketing Activities – targeting of activities along with measurable KPI’s ensure cost-effective use of marketing resources and budgets for maximum return.
- Improved Customer Experience – through better customer insights, businesses will have a better understanding of their customer’s needs and can put in place methods that will retain existing and attract new.
- Greater Transparency and Accountability – decisions are made based on actual facts, making businesses less vulnerable to risky unfounded decision making. This ensures confidence and consistency in the decision-making process and builds trust amongst key stakeholders.
- Measurability – a better understanding of what is working and what is not working in the business.
- Opportunities – Gain a competitive advantage by quickly identifying new business opportunities and predicting future trends and behaviour.
ARE YOU A DECISION MAKER?
Are you ready to embrace Data Driven Decisions?
Would you like to understand more about how valuable your Data could be in growing your business?
Testimonials
“We partnered with Grainne on a Strategic Brand Review for Waterford GAA. She undertook the market research that was the backbone to the brand review. Grainne was a pleasure to work with, her insightful, energetic, and professional approach, ensured results were delivered on-time and fully met our needs. She is extremely knowledgeable, focused and results-driven yet very personable and very much a team player. I would highly recommend Grainne and I very much look forward to working with her in the future.”
Colin Byrne
Creative Director, Totem
“Grainne has been a member of our mentor panel for the past 3 years and in that time, she has brought great clarity and a sense of perspective to many business owners. Insightful of both the business and the people she works with, she has the ability to distil the complex into straightforward action-oriented solutions, is a great listener and always has the interests of the client at the forefront of what she does. Client feedback to us has been exceptional and we look forward to further LEO clients benefiting from the advice and encouragement Grainne will provide.”
Sean O’Sullivan
Head of Enterprise, Local Enterprise Office South Cork
“We partnered with Grainne on a Strategic Brand Review for Waterford GAA. She undertook the market research that was the backbone to the brand review. Grainne was a pleasure to work with, her insightful, energetic, and professional approach, ensured results were delivered on-time and fully met our needs. She is extremely knowledgeable, focused and results-driven yet very personable and very much a team player. I would highly recommend Grainne and I very much look forward to working with her in the future.”
“Grainne has been a member of our mentor panel for the past 3 years and in that time, she has brought great clarity and a sense of perspective to many business owners. Insightful of both the business and the people she works with, she has the ability to distil the complex into straightforward action-oriented solutions, is a great listener and always has the interests of the client at the forefront of what she does. Client feedback to us has been exceptional and we look forward to further LEO clients benefiting from the advice and encouragement Grainne will provide.”