07 Aug Make Your Warehouse Data Work for You
The Era of Data
So why has data become the cool kid on the block?
Data has taken on its oh so popular name because, when paired with the correct business objectives and focus, it takes shape into meaningful answers. Bare bones data does not provide answers, only confusion and perhaps a headache. But data is like clay. It can be massaged and molded in a nearly infinite number of ways to create anything a management team needs it to be. It’s the new-age version of the genie in a bottle. If you need an answer, ask the data. But first, you have to know exactly what your question is, determine what data can get you to your answer, and get the rest of the clutter out of the way.
Get the Most Out of Your Data
Outline your key business objectives (sales, marketing, service, etc.) and note what data elements are important to that objective
for example, in marketing, you will need to know a contact name, email or mailing address, etc.
Determine what business objective you are seeking answers for
Pose your question in terms that can be answered by measurable results
Determine which key data points will help you answer the question at hand
For example, if you want to know the breakdown of your small, medium, and large client companies, you will want to look at the client name, number of employees, annual gross profit, etc., but you don’t necessarily need contact information for that report
Filter and focus your data based on the key metrics you have defined, and create summaries for the data in order to answer the question you have posed
So, for example, if you want to see a summary of the battery life for each type of equipment you have in your warehouse, you would do the following:
Define the question: What is the average battery life for each type of lift truck in our facility?
Determine key data points to evaluate: equipment ID, equipment make, equipment model, equipment battery life
Filter and focus your data: Whittle out all data fields except for the ones defined above, group data by equipment make and model, average the battery life for each make and model subgroup
In this increasingly digitized business world, it is important to stay on top of the latest technology and trends, and right now the trend on top is data. Don’t get bogged down in the details. Instead, make your data work for you. With a little time and preparation, you can mold the clay of data to whatever you need it to be. The answers are there. You just have to ask the right question, look at the right data, and get the rest out of the way.
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