Driven by the Data - Chris Borduas - Leadership in Action- Episode #020

For so many people today, anything to do with data management or analysis is seen as something for IT to do or very math intensive. However, Chris Borduas, the Owner of Tillerman, LLC., knows a much more accurate and vibrant side of data management which he is here to share. Learn about how the creative elements and the data analysis mix to make more informed decisions, the importance of understanding your end-users, and how to avoid some of the all too common traps in analyzing data.    Takeaways: Data management is much more than just a function of IT, at its core data management is about understanding a need, figuring out how to serve that need, and how to get the information that you need. It’s really a creative exercise more than anything. There are three components of data management: 1. Where do you get the data; 2. What do you do with the data; 3. How do you make it into something you can use to help run your business. In data management, you should really be trying to simplify the process for people so they can more easily understand and use the data. If you want to drink a glass of water, you can’t drink a single glass of water if it’s coming from a fire hose. To simplify the process for people, there are three steps and questions you have to ask: 1. What’s out there and what do we need; 2. How do we consolidate it into something you can use; 3. Understand the end-use of it. Before you start analyzing data make sure you know what question you’re trying to answer. For example, know what KPIs are going to tell you whether something is a good investment or a bad investment to you. Avoid falling into the ‘Perfection Trap’ of getting caught up in chasing down a >1% variable. Don’t let perfection get in the way of strong directionally accurate information because perfection doesn’t exist. Directionally accurate information is very valuable, especially when you have the ability to make quick decisions based on the directions shown in the data to get ahead of trends, etc.    Links:  LinkedIn: linkedin.com/in/chris-borduas-9a59593 Website: https://www.tillermanusa.com/TillermanUSA/Welcome.aspx Article: https://www.mytotalretail.com/article/how-retailers-can-get-the-most-from-their-pos-data/   Quote of the Show “We're trying to get the right people, the right information they need to make the best decisions they can” -Chris Borduas   Book Recommendation: Blue Highways by William Least Heat-Moon   Ways to Tune In: Apple Podcast - https://podcasts.apple.com/us/podcast/leadership-in-action/id1585042233 Spotify - https://open.spotify.com/show/2t4Ksk4TwmZ6MSfAHXGkJI Stitcher - https://www.stitcher.com/show/leadership-in-action Google Play - https://podcasts.google.com/feed/aHR0cHM6Ly93d3cubGVhZGVyc2hpcGluYWN0aW9uLmxpdmUvZmVlZC54bWw Amazon Music - https://music.amazon.com/podcasts/4263fd02-8c9b-495e-bd31-2e5aef21ff6b/leadership-in-action YouTube - https://youtu.be/tTdIc931fCM