Think your company doesn’t need data analysis? Do you assume analytics work is only for technology firms?
Let me bust a few myths for you:
Myth: I don’t have a data problem.
Deep down, every business problem is a data problem. That’s because problem-solving is all about gathering information, testing ideas, and making decisions. All of those steps are driven and supported by data. Just because something doesn’t appear to be a “data problem,” data analysis may still be part of the solution.
Myth: I’d need to run a tech business to collect and use data.
If you run any kind of business, regardless of size or domain, you have data and you can analyze it to help improve your standing. Proper, practical use of data analysis can drive business decisions to unlock and explore new avenues of profit, or identify and mitigate sources of business risk.
Myth: I don’t have the “big” data I read about in the news.
That’s fine, you don’t need it.
Employing data analysis in your firm doesn’t necessarily require all of the fancy new tools you see in the business press. Quite often, you can make a lot of headway using tools you already have: your CRM database, a spreadsheet, even some back-of-the-envelope calculations.