Data in a Business

The Essential Questions

What is the business about?

Understand What is its core mission, what value it offers to users.

Also, who are the competition, how are they doing, and how is this business better than the competition ?

What data is required?

Define the necessary infrastructure to allow measure the business:

How is the business doing?

Answer this, By understanding the top-level reality of the business. This is very tied to the previous step, but also involves:

The Essential Questions, part 2: day-to-day activities

Once is clear what is the business about, how is it doing and where it should be going there’s the need to accompany the business on its daily activities.

What should the business be doing?

And equally important, what it should not be doing. Includes:

Did the activity help?

On each activity answer: did it (the activity) help achieve the business goals? And by how much?

Is a quantification exercise.

What did we learn?

Once we have the numbers on by how much did the activity help, create an opinion of what worked what didn’t and why? and create hypothesis for the next activities.

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