Don't Screw Up Your Business Insights

Book excerpt: As a business owner or (senior) leader, bringing success in the arena in which we operate can be tough, but failing can place an even greater burden on us all. So, the quest to succeed becomes all-consuming. However, in one sense, we must be able to accurately predict the future of the business that we operate. That is, the executives entrusted with such responsibility must not fall short of having good insights into the business. In other words, the more accurate these findings, the more sustainable and profitable the company or industry they operate in. At a time when computers were not invented or manual analytic models developed yet, business owners, merchants, or executives relied on the predictions of fortune tellers to gain insight into the future of their business and set their industry on a more sustainable path. But that form of insight comes with too many inaccuracies, which could make situations unpredictable. The advancements we have achieved today allow us a more accurate prediction; with it, one would have no reason to screw up on their business insight. In this book, I take you on the journey of how not to use your data—and avoid any pitfalls that might screw up your business insights. All examples come with and from actual life experience, and they will help you ask your analytics experts the right questions.