What Story is Your Data Telling You?
We have all done story sequencing. We are given a series of pictures and asked to put them in a logical order and then narrate the story we created from beginning to end. Much like sequencing a story, you need to have data for your business, be able to interpret the data to know what story it is telling you, and take action to write a happily ever after ending to your story.
If data is captured, but there is no context in which to apply the data to create meaning around it, different endings to your story will be created. As a business owner, you want to influence your team to align around shared goals so the ending to your story is how you would write it, not someone else. Our Mid-Missouri CPA firm is here to give you six components to implement into your business that will help lead you to creating your own happily ever after. If you have any questions or would like some business consulting in Central Missouri, please call Wilson Toellner CPA. We have four locations that make up our accounting firm in Central Missouri, all of which can be found on our website at www.WTCPA.com.
Create a data driven culture. Everyone in the organization needs to understand the value of the data and prioritize the effort. Relevant data and analytics should be part of many conversations within your organization to demonstrate the priority of data. Over time, this will create a data-first culture.
Identify what data to capture. Be aware of the data you want to capture based on the problem you are trying to solve or the result you are hoping to achieve. These problems and goals will change over time and so, therefore, the data you capture should move in tandem.
Capture the data. Implement technology solutions that capture data timely and produce reports that provide insights at a glance.
Apply context to the data. This is the point at which data transforms into information and begins to tell its story. Find the connection between data points. Be aware of holes in the data that may make the data misleading.
Find meaning to the data. Ask yourself questions based on your problem to solve or achievement to accomplish and find the answers in the data. What trends are you seeing? What are the drivers of results, good and bad? How does the data compare to prior period or prior year? What metrics have improved or worsened? Did we achieve our desired result or solve the problem?
Take action. Based on the answers to the questions in finding meaning to the data, what needs to happen to solve the problem or achieve the desired result? Do it! Or if the problem is solved and the desired results achieved, what is next on your list of goals or problems to solve. Start the process all over.
Wilson Toellner CPA can meet with you frequently for strategy and goal sessions to identify what problems or achievements to focus on for data capture, to interpret the data, and present the story the data is telling. Our App Advisory services can assist in identifying an ideal cloud solution to capture data that integrates across our technology platform. Partner with Wilson Toellner CPA to co-author or illustrate your story and help to find meaning and actionable steps to write YOUR ending.
If data is captured, but there is no context in which to apply the data to create meaning around it, different endings to your story will be created. As a business owner, you want to influence your team to align around shared goals so the ending to your story is how you would write it, not someone else. Our Mid-Missouri CPA firm is here to give you six components to implement into your business that will help lead you to creating your own happily ever after. If you have any questions or would like some business consulting in Central Missouri, please call Wilson Toellner CPA. We have four locations that make up our accounting firm in Central Missouri, all of which can be found on our website at www.WTCPA.com.
Create a data driven culture. Everyone in the organization needs to understand the value of the data and prioritize the effort. Relevant data and analytics should be part of many conversations within your organization to demonstrate the priority of data. Over time, this will create a data-first culture.
Identify what data to capture. Be aware of the data you want to capture based on the problem you are trying to solve or the result you are hoping to achieve. These problems and goals will change over time and so, therefore, the data you capture should move in tandem.
Capture the data. Implement technology solutions that capture data timely and produce reports that provide insights at a glance.
Apply context to the data. This is the point at which data transforms into information and begins to tell its story. Find the connection between data points. Be aware of holes in the data that may make the data misleading.
Find meaning to the data. Ask yourself questions based on your problem to solve or achievement to accomplish and find the answers in the data. What trends are you seeing? What are the drivers of results, good and bad? How does the data compare to prior period or prior year? What metrics have improved or worsened? Did we achieve our desired result or solve the problem?
Take action. Based on the answers to the questions in finding meaning to the data, what needs to happen to solve the problem or achieve the desired result? Do it! Or if the problem is solved and the desired results achieved, what is next on your list of goals or problems to solve. Start the process all over.
Wilson Toellner CPA can meet with you frequently for strategy and goal sessions to identify what problems or achievements to focus on for data capture, to interpret the data, and present the story the data is telling. Our App Advisory services can assist in identifying an ideal cloud solution to capture data that integrates across our technology platform. Partner with Wilson Toellner CPA to co-author or illustrate your story and help to find meaning and actionable steps to write YOUR ending.
Written By: Katie Swanson
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