Better Questions, Better Results

  How to Test if Your Data Will Solve Your Business Problem? 26 October 2024 | Best Practice, Data Analytics, Data Science, Decision Making, Question a Day Question a Day     How to Test If Your Data Will Solve Your Business Problem When tackling a business problem with data, it’s essential to ensure that the data you’re using is both relevant and sufficient. Testing data suitability isn’t just about having enough information; it’s about confirming that the data can lead to actionable insights and drive decisions that align with your business objectives. Here’s a step-by-step guide to validate if your data will effectively address your business problem. 1. Clearly Define the Business Problem and Objectives Before assessing the data itself, it’s crucial to articulate the business problem you’re trying to solve. Consider questions like: What specific decision are we hoping to inform? How will solving this problem benefit the business? What are the key performance indicators (KPIs) we’re

Which Businesses Are Focused on the Wrong Problems? 25 October 2024 | Best Practice, Business Success, Challenges, Change, Leadership, Multi-Channel, Opportunity, Question a Day, Strategy, Vision Question a Day   In the fast-paced business world, failing to spot and adapt to trends can spell disaster for even the most established companies. Whether it's ignoring the digital transformation, missing the health and wellness movement, or sticking with outdated business models, some companies have continued to focus on the wrong problems. Here’s a breakdown of businesses and industries that have fallen into this trap, along with specific examples and what they could do differently to align with market demands. 1.  Retailers Ignoring E-Commerce Growth The rise of online shopping has reshaped the retail landscape, yet some traditional retailers have been slow to embrace e-commerce. Instead of investing in a seamless online experience, they’ve doubled down on brick-and-mortar stores, even