My Unpopular Opinion

Welcome back! Great to have you for another edition of the JS Analytics newsletter.

I want to share an unpopular opinion with you (or at least one most people don’t like to hear). Don’t worry, it’s nothing too crazy. But I do believe it’s important.

Ready?

Most companies, probably yours included, don’t need advanced analytics.

You might be wondering, “Why is this guy who runs an analytics company saying most companies don’t need advanced analytics?” I know, it seems odd. But let me explain.

Here’s my experience in this business: most companies, especially small businesses, are doing very little with their data. Their day-to-day is reactive, putting out fires as they happen. From a big-picture view, they’re flying blind, checking a few random data points here and there but primarily driving decisions based on fire drills and gut-feel.

If you’re in this stage, the truth is, you just need to focus on executing the basics better every day. You don’t need a fancy model that forecasts revenue with 100% accuracy or predicts the likelihood of a customer churning. What you do need is to deliver on customer expectations and execute better than your competition.

The good news? Basic analytics can help you get there.

Simply organizing your available data and regularly reviewing the most relevant and actionable KPIs for your business is a great way to make sure things aren’t slipping through the cracks and you’re headed in the right direction. Believe it or not, having a good handle on your top KPIs will put you ahead of the curve.

There’s certainly a time and place for advanced analytics once you have the foundations in place. But most businesses aren’t there yet.

This is why I do what I do at JS Analytics. I help you build the foundations so you can execute the basics better. We evolve your data and analytics strategy as your company grows, but in the beginning, it’s crucial to nail the basics.

What exactly do the basics look like?

• Processes that produce clean, complete, and accurate data

• Data centralized in a single, accessible location

• Simple, actionable dashboards that highlight your top KPIs, such as the Company Health dashboard I shared in last week’s newsletter

When you get a handle on these fundamentals, opportunities often become glaringly clear. While everyone else is chasing the new shiny object, you’ll be taking real steps towards growing your business.

Remember, the goal of data isn’t complexity or showmanship. It’s to give you better visibility into your business, save you time, and help you make better and faster decisions.

Until next time,
Josh

P.S. To learn more about JS Analytics and what we do, check out our website here.

If you’re interested in becoming a client of JS Analytics, feel free to grab time on my calendar here.