The Strategic Use of Data

December 13th, 2019

Have you thought about the strategic use of data? If not, you are missing a HUGE opportunity. Even in the most fundamental of businesses, having the ‘right’ data at the ‘right’ time in the ‘right’ place can not only enable quicker, more effective decision making but it can transform your business model.

Listen to David Libatique, Deputy Executive Director of Stakeholder Engagement of the Port of Los Angeles talk about the strategic value of data in the video below (thanks to APICS Inland Empire Chapter for the footage from the Executive Panel and Networking Symposium).

This topic is not just related to the vast amount of data the ports could capture (although that could be pure gold to those stakeholders), but data in general. Every client has a system of some sort. Small clients might still be on QuickBooks or are looking for the best “starter ERP” for their situation whereas others require complex ERP for process manufacturing or configure-to-order environments. That system contains vast data that can “collect dust” in the ‘data warehouse’ or be put to good use to drive business value. Which are you doing?

Do not get overwhelmed by data overload! There is no doubt that 80% of clients have voluminous amounts of data that can employ multiple people in creating reports on a daily, weekly and monthly basis. We are definitely not advocating for this end result. In our experience, whether a $5 million dollar family-owned business or a multi-billion dollar enterprise, the strategic use of data is typically not on the radar. Oddly, the big companies might not be the report mavens whereas the small might not be as nimble as we’d think! Almost every client can improve when it comes to the strategic use of data.

Instead of getting lost in the data maze, perhaps we should consider a few questions:

  1. Where do you want your company to go?
  2. Are you assessing the ‘right’ data to know if your strategy holds water?
  3. Are you going in the right direction? How can you tell?
  4. Have you thought about your data source(s)?
  5. Do your sales people have “data at their fingertips” to ensure profitable growth?

Data isn’t going to lose its power. It has been several years since I heard the CEO of SAP, Bill McDermott speak about the value of data especially as it relates to customers. Nothing has changed. In fact, most ERP systems tout the critical importance of data and several have hired what they call “data scientists” to gain a competitive advantage in the marketplace. Will you evaluate your strategic use of data? Then go beyond your internal borders and expand to your customers, suppliers, transportation partners and you might just see a vastly expanded value in the strategic use of data. If you’d like assistance navigating this process, please contact us.

Did you like this article?  Continue reading on this topic:

Why Customers Rule

What’s Ahead for Business

Eagle Eye Strategic Focus



Why Customers Rule

September 28th, 2016

supply chain

Last weekend, I attended APICS 2016 in Washington DC, and one of the keynote speakers was Bill McDermott, SAP’s CEO (pictured below with Abe, APICS’s CEO). He gave a motivating talk about a variety of topics. One of the key themes is that customers (consumers) rule! And, if you think about it, one set of customers includes your employees. Thus, you need to know what both think and want!

One of his stories from his younger career is when he was sent to lead the worst performing division of Xerox. Listening to his employees and customers turned it from last to first in one year. Talk about powerful!

Bill McDermot SAP CEO

In essence, all businesses should be concerned about what their customers – both up and down the supply chain (including consumers) — want. The better understanding you have of demand, the more successful you’ll be in exceeding expectations — with the opportunity to do so at the lowest cost, driving win-win profit.

One tip to implement this week:

So, this week, start asking your customers and employees what is important to them. You might not even have to open your mouth — start listening to what is said AND what isn’t said. I guarantee you will learn something new that could prove invaluable. Look for win-win opportunities. How can you make sure they become raving fans without spending a dime?

Once you talk with a group of customers, look for trends. What do you see and hear? And, how about your employees (and peers)? I’ve yet to meet a client with happy customers and unhappy employees. What does that tell you?

Looking for more ideas to keep your supply chain connected? Access more tips and resources on my blog. And keep connected by subscribing to my newsletter and email feed of “I’ve Been Thinking…”