We Have All the Data We Need, Now What Do We Do With It?
In today’s digital age, businesses accumulate vast amounts of data. From customer interactions and sales figures to social media engagement and website traffic, the volume of data at our disposal is staggering.
Over the past decade, having been at the forefront of analytics training in the Philippines, I have seen the industry go full circle. From not having much in the way of an analytics team, to investing heavily into analytics, and now feeling back at square one. I hear things like, “I have all this data, but I still am not seeing all the gains in efficiency, risk reduction and most importantly, profit, that I was expecting.” So what next?
Well, having data is one thing; knowing what to do with it is another. As Filipino managers and executives, understanding how to leverage this data can significantly impact your business’s success. So, what steps should you take next? That seems to be the question of the day. So let’s break things down into a few areas to focus.
1. An Enterprise-Wide Understanding of Your Data Analytics
Data analytics involves examining raw data to draw actionable insights. It helps identify trends, patterns, and anomalies that inform decision-making. For Filipino businesses, especially in a rapidly evolving market, leveraging data analytics can mean the difference between thriving and merely surviving. Getting everyone on the page, has proven much more challenging than any of us expected. We need to bring all the decision-makers into synch, get on the same page, and have a common vision going forward of what to do with all our data.
2. Identify Key Business Questions
Before diving into data analysis, it’s crucial to determine what you want to achieve. We have all asked ourselves:
What are our business goals?
What challenges are we facing?
What specific questions do we need answers to?
Yet, even with the investment in an analytics team, in business dashboards and data modeling tools, and lots and lots of training we still have the same questions. Where did things go wrong?
Well from my perspective, we focused too much on building a process that works well from a technical perspective but doesn’t actually add much value to the end users. In many cases, the end users weren’t really involved in deciding what data they needed, and we made getting it too hard and too time consuming. We basically just replaced our old management reporting process with a new process that costs 10x as much but gives us about the same level of actionable insight. It’s not the data or even the analytics team… it’s the end user not being empowered. That’s where a lot of us went wrong. If that sounds familiar, I can show you how to address this and get more bang for your buck.
3. Invest in more Results Focused Analytics Training for Your Team
Having the right tools and technology is essential, but your team’s ability to interpret and use the data is even more critical. Investing in less technical and more soft skill based analytics training equips your team with the skills needed to transform raw data into meaningful insights. That’s why our analytics training program is designed specifically to the local market and business environment in the Philippines.
4. Really Make Plans to Implement Data-Driven Decision Making
We all “encourage” a culture of data-driven decision-making within your organization, but often we get stuck and just do what worked before. Being able to use data insights to guide strategic planning, marketing strategies, and operational improvements sounds nice, but most organizations make it harder for themselves then they have too. If your team lacks the expertise to get much value out of your data analytics structure, I can show you how the analytics teams working for top companies in the Philippines actually provide valuable insights and help navigate complex data challenges. They figured it out, and so can you. That’s the whole point of the training I do, lets actually make things simpler, and then we can really see the value you are looking for.
For most of us, having access to data is just the beginning. The real value lies in how you use it. And that is where we got stuck. By investing in my unique approach to analytics training, built around fostering a culture of data-driven decision-making, Filipino managers and executives can unlock the full potential of their data. Let me help you equip your team with the necessary soft skills and watch as your business transforms into a data-savvy organization ready to tackle the challenges of the modern market.
Contact me today to learn more and take the first step towards a data-driven future.
Daniel Meyer is the President and Founder of DMAIPH (Decision-Making, Analytics, and Intelligence — Philippines), an analytics training and consulting company with offices in both Manila and California.
Mr. Meyer holds a master’s degree in education and has established himself as one of the leading figures in the Philippines’ analytics community. Since moving here in 2012, Dan has been recognized as one of the top analytics experts in the country.
Recognized as a top expert in data storytelling, building business dashboards, and developing real-time management reporting tools, Mr. Meyer has used his expertise to help hundreds of local businesses transform data into compelling narratives and efficient decision-making processes.
Mr. Meyer is also an accomplished public speaker and corporate trainer who has personally trained over 10,000 Filipinos in areas such as virtual assistance, data analytics, business process outsourcing and social media marketing & management. Dan’s passion is upskilling the youth with 21st Century skills like graphic design, video editing, & data analytics to empower them for the dynamic job opportunities that lay ahead for millions of Filipinos.
