Data Driven | Strategic Planning | Business Value

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Data-Driven, Continuous Strategic Planning Enables Businesses to Act Nimbly

December: It’s the fastest moving time of year for every business. But as the haze of the holiday season comes and goes, most businesses will begin to shift focus to a series of important questions: What did we do right in 2016? What did we do wrong? And how can we improve? Most businesses will soon be in the process of strategic planning, annual reviews and employee evaluations. But many aren’t taking a traditional approach. More and more businesses are integrating Big Data and analytics into their strategic plans, and in turn, they’re abandoning the 12-month cycle. Now, yearly planning is on-going and continuous. The benefits of data-driven strategic planning are endless: Businesses can more accurately determine KPIs and metrics. They can better allocate budgets, understand their customers more effectively, and keep pace in today’s fast-moving marketplace. As you review 2016 and plan for the New Year, Big Data can help you uncover insight, realize new revenue and grow your business more rapidly. These resources will help guide you through data-driven yearly planning, provide tips for better utilizing your analytics data and offer guiding questions to help you determine how data can empower your business in 2017.

Straight Talk About Big Data via McKinsey Digital

Straight Talk About Big Data via McKinsey Digital

The start of a New Year offers businesses the opportunity reimagine how they are utilizing Big Data and analytics. From gaining a comprehensive view of customers, to using data to grow revenue, the uses are endless. But successfully implementing and integrating analytics and Big Data into your operation requires thoughtful planning. This piece highlights five questions that CEOs and other professionals should be asking as they look or strategies to use Big Data in their operations. Plus, you’ll also find a framework for successful roll-outs, starting with a strong foundation, and ultimately gleaning insights that inform actions. If you’re looking for ways to better allocate and integrate data in 2017, this guide is a wonderful jumping off point.

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How Data Driven Employee Review Process Can Help Your Company Develop Talent via Forbes

How Data Driven Employee Review Process Can Help Your Company Develop Talent via Forbes

Yearly employee evaluations are an important aspect of end-of-year reviews, but they leave something to be desired, writes Bryan Borzyknowski. For starters, these once-per-year reviews tend focus on recent successes – rather than big Q1 or Q2 accomplishments – and they typically do not match the pace of business in today’s marketplace. Boryknowski offers a few insights into how HR analytics are improving and making yearly reviews more relevant. First, he highlights companies that have successfully moved to data-driven systems. Google, for example, has long used data in employee reviews, and they encourage employees to set Objectives or Key Results, OKRs, which are quarterly goals and benchmarks. Second, the article covers some of the data tools you will need, including CRM sales data and analytics software. Ultimately, data can help your company conduct performance reviews more continuously, which can help to boost the output of your employees.

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Actionable Insights: The Missing Link Between Data and Business Value via Forbes

Actionable Insights: The Missing Link Between Data and Business Value via Forbes

During end-of-year reviews, all departments within your organization are likely pouring over their data. And they all should be looking for the same thing: Actionable insights. All too often, we get caught up in the information, but to be truly helpful data should provide us something to act on. In this piece, author Brent Dykes clearly explains what an actionable insight is, and the characteristics you should be looking or to determine where to look. And although it might not be specific to strategic planning, it’s important at this time of year. Examining your data from the last year will surely reveal business value – but the key is putting the data to work for you. This piece offers directions for departments that are less data savvy in their end-of-year quest for actionable insight.

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Retailers’ “Big Data” Questions: How Holiday Shopping Insights Will Shape Stores’ Strategies for the Upcoming Year via RetailDIVE

Retailers’ “Big Data” Questions: How Holiday Shopping Insights Will Shape Stores’ Strategies for the Upcoming Year via RetailDIVE

For retailers, the annual holiday shopping season is make-or-break time, and all of the data that’s created can be a powerful tool in shaping strategy in the coming year. Although this article was published last year, the insights still ring true today for 2017. The author highlights specific areas that retailers and other businesses should examine in the holiday data. For example, researching how customers’ behavior changes when they are shopping for gifts or for themselves – a common occurrence around the holidays – can help marketers better position their products throughout the year. Additionally, holiday shopping data can help to inform loyalty programming by providing clearer, more comprehensive customer profiles.

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5 Ways to Implement Analytics Into Your Strategic Planning via Edelman Digital

5 Ways to Implement Analytics Into Your Strategic Planning via Edelman Digital

Author Richard Ng highlights five foundation steps that marketers can take to improve their performance with data and fully integrate it into their strategic planning. A few interesting points are raised. For example, marketers have strategic and operational indicators that can help them gauge performance. Typically, operational indicators are measurable factors – like click-through rate and engagement. Strategic indicators, on the other hand, might include a more abstract target like rebuilding reputation. These are not always readily apparent in the data, and as such, marketers must adjust their approach to measure their efficacy in reaching these goals. Beyond this, Ng highlights additional data-driven strategies that can improve planning performance.

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HOW TEAM CLUTCH CAN HELP

Make it a New Year’s resolution to squeeze more business value out of your analytics tools. How? Team Clutch can help. We integrate and deploy analytics and Big Data solutions designed to help businesses grow.

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