Delegate, Focus, and GROW Your Business

You Have The Data But Are You Using It?

Data is one of the key components to business success. What are your customers buying and how often? What are the metrics within the industry? Year-over-year or month-over-month, how is your business performing? These are all questions that data can answer. Most businesses have the data available, but many have been negligent on using it to their advantage. This is usually because for this data to be beneficial, it first must be foraged and put into accessible form, which takes time and sometimes skills that not everyone has.

Extracting Data And Making It Useful

Most data is found in a variety of different reports from software that your company uses for tracking sales, expenses and other metrics. The problem is that all the data you need is rarely in one spot. What you need is the ability to extract the metrics you need into an easy-to-read format. Usually this is not done due to the time and effort that compiling this data can take.

That is where your Virtual Assistant can be of service. You need someone that understands how to create spreadsheets and formulas using the reports and information you already have. Your VA can hunt down the data and input it into useful formats. Once these formats are created, it will be much easier to input new data and use these metrics to improve your business.

Researching For Data

Another time consuming data project is collecting industry metrics on the competition and your industry in general. It is hard to be competitive if you are not up-to-date on what is happening in the market you sell to. Data mining and putting this information into a format that is easy for you to share with your staff is yet another way your VA can save you time.

Converting Data

Let’s face it. Not all of us are tech savvy. As a business owner you may be an expert in your industry and have a great business mind but that does not necessarily mean you know how to convert one type of software format into another. This is where delegation comes in. You do not need to know how to do everything as long as you have people around you that can do it for you. Your VA can convert that PDF file into a Excel spreadsheet, no problem at all.

Data is everywhere and using it is the key to success. By compiling these numbers and metrics, you can see where your business was and where you need it to go. Use your VA to help you get control of these numbers and make them useful to your business.

photo credit: Horia Varlan

Posted on October 28th, 2013 by Rachel Braam, Office Manager

1 Comment »

Ryan Biddulph says:

Hi,

Good reminder! Build that data up and use it to your advantage. This can be time consuming but worth it in the long run.

Thanks for sharing!

Ryan
Ryan Biddulph´s last blog post ..Cash Gifting: How Do You Start Making Money?My Profile

Posted: October 30, 2013 @ 9:31 am


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