Kinspeed Sage - 7 tips to supercharge your business decisions

4 kinspeed.com 7 tips to supercharge your business decisions Tip 2: Know when to delegate Your colleagues might be enthusiastic about making more data-based decisions, but that enthusiasm could quickly fade if they don’t have access to the data they need to think and work more strategically. Say a member of the sales team has a meeting in an hour and wants to present a report on how much profit a particular new product has generated, compared to the time taken to sell it. They’re forced to wait until whoever is in charge of accounts has time to pull the report, visualize the data, and send it across—by which time the meeting has already taken place, decisions have already been made, and the accounts team has lost time they should be spending on their own strategic analysis. There’s a reason why 70% of leading companies have some form of self-service data access. 5 The key is to give everyone easy access to the data they need, when they need it. Many forms of accounting software, for example, will let you grant selective access to certain individuals for certain tasks. That means they can upload the data that is required from them (such as their expenses) and download the information they need (such as sales reports or confirmation of paid invoices) without giving them access to the whole system. With this access at their disposal, employees across the business remove some of the burden of data entry from you, while getting the information and control necessary to really embrace data-led decision making. Tip 3: Equip your teamwith the right technology If only a handful of people are equipped and trained to compile reports, analyze data, and make decisions using that data, then your efforts to make smarter decisions are going to be limited. To have a real impact on the success of your business, data-based decision making needs to become part of your culture. That means investing in tools that make data analysis easy, so it becomes second nature to check the figures before making any kind of strategic move. The right analytics software and dashboards tailored to your team members’ roles and job requirements will make it significantly easier for them to spot insights that others might have overlooked. You’ll be able to train them to notice patterns in the data and use the insights they gather to make better decisions and improve the way they work on a daily basis. When that’s happening across the whole business, it’s easy to see how these smaller changes can have a huge impact on the success of your company.