Saving Time = Saving Money

Hello there!

This is Josh with JS Analytics. Welcome back to the newsletter!

Last edition, we talked about radical visibility and how all the data in the world won’t help unless you have a simple and clear way to access and make sense of it. If you haven’t read that edition yet, click the link to the home page and check it out.

Okay, today let’s look at the second piece of what we do at JS Analytics: save you time.

We’ve all heard the saying, “Time is money”. It’s an old cliche, but it’s a cliche for a reason. Honestly, I think this is the main benefit JS Analytics offers.

Every business owner’s biggest constraint is their time.

And every business owner could gather and sift through all of their data themselves, but they don’t necessarily have the perspective of:

• The best ways to collect data to ensure accurate metric calculations

• The tools they can use to centralize and automate their reporting

• Which metrics they should be tracking and monitoring

• How to best visualize metrics on a dashboard

• How to integrate data into their daily decision-making

If you were to venture down the self-serve route, how much time would you spend getting these foundations in place? And what mistakes might you make along the way?

Ultimately it’s these foundations that unlock the time (and money) savings you get through data. That is:

1. The time it takes to form decisions

2. The time it takes to evaluate the outcomes from those decisions

If it takes you two hours to pull basic metrics like profit margin, average ticket price, and lead conversion rate for a new service offered last month, I’m sorry to say your data infrastructure is broken. Those two hours are valuable time you should be spending on activities that actually move your business forward.

Now, extrapolate this to all of your decisions that could benefit from being data-informed, and you start to see the impact good data and analytics systems can have on your business.

Yes, I know it can be hard to quantify these phantom costs in decision-making. But that doesn’t mean data isn’t a worthwhile investment.

Remember, every day that goes by doing business with some preventable inefficiency is money you’re leaving on the table.

So there you have it, the real benefit we deliver: time savings in forming and evaluating the outcomes of decisions, which allows you to continuously implement positive changes in your business.

Thanks for reading,
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.