Introduction

We all remember the definition of data where it says that it is a collection of facts and figures but now in this era, it is more than that. No matter which industry you belong from or have come across has a lot of storing and using data both electronically and manually and there is no doubt where we can say that data is changing the way we used to keep information and is changing the face of the world. It might be a part to boost any company’s revenue or helping diagnosing a cure for a disease. Building more accurate and efficient data is the best investment because of its use in the future.

In general, data is simply another word for information stored electronically in any computer and it's machine-readable so we can get great insights and analysis from it. Today gathering data can help you better understand your clients and business more accurately.

Here are the reasons why If Data is king, then reporting is also queen:

REPORTING WILL HELP YOU MAKE WISE DECISIONS

As we all know data is everywhere, even small businesses generate data. Any business with social media presence, an app, or a website that accepts electronic payments is collecting data about customers in many forms like user habits, web traffic, customer's location, demographics, and more. All this data is filled with sufficient potential if you learn to get at it.

While there are many facts and influences when making a decision like the economic situation of the country, global news, and your gut. There is nothing much effective as having raw data to back you up which is a profit-increasing power for a long-term vision.

IT WILL HELP YOU UNDERSTAND THE PRESENT SITUATION

Every business goes through ups and downs experiencing slow sales or a poor performing marketing campaign, so how do you figure out that what went wrong that failed the campaign? Not by self-analyzing but you need proper proof to present it. Tracking the right data will help you uncover the performance breakdown so you can better understand each part of the process and figure out what steps need to be fixed to make the campaign successful.

REPORTING WILL ANALYZE AND IMPROVE THE PROCESSES

Using the data generated through the customers, it will help you see the performance. We can take football as a very good example where performance data is collected to make their teams better that does not mean they hire data collectors to collect data but they are updating data about who’s doing what well and how that can help team win games by their own and analyzing the performance helps them deciding of players who should play the game.

Understanding and improving the process of business can reduce the wasted time and money invested. Just an example if we invest money in a YouTube advertisement where we waste a huge amount of money in marketing into a channel with not our target audience and we end up wasting a good amount of capital with a very bad Return on Investment. This would allow you to calculate the budget to generate more leads without increasing the amount of money.

For more help on how to execute this process on behalf of your organization, download our free ebook here. 

 Conclusion

Marie Management is a consulting firm designed to build the following business models:

• Hybrid Model Nonprofit: Adding a nonprofit to an existing for-profit business.
• Hybrid Model For-Profit: Adding a for-profit to an existing nonprofit business.
• Hybrid Model Brand: Building an entrepreneurs personal brand, for-profit and nonprofit collectively.

We specialize in hybrid models and love ensuring that entrepreneurs utilize excess profits for the purposes close to their hearts. Our entrepreneurs benefit greatly from having a firm that not only consults in both sectors, but manages in them as well.    

For immediate assistance in structuring, developing, operating and or executing your nonprofit organization, schedule your consultation here. 

For regular updates on everything nonprofit organizations, follow us on facebook, twitter and instagram platforms @mariemanagement. 

Thank you for choosing to build your nonprofit correctly the 1st time. See you in service! 

Jazzmine Nolan MPA 

Marie Management 

Creating and Expanding Magical Businesses for Extraordinary Purposes. 

W: www.marie-management.com 

E: jnolan@marie-management.com