Toward a More Data Savvy World
Even if you think you understand the data you use to run your business, you can do better. Whether we’re talking about understanding market data, plant floor metrics or the motherlode of government reports that track the state of the U.S. economy, the need exists to question and dig deeper for a more clear understanding.
Data, after all, isn’t any different from anything else: Your use of it must be continuously improved.
Contributing author Larry Fast knows there’s a problem even within factories that have tracked production metrics for decades. In a recent series about selecting metrics to drive continuous improvement, he several times notes shortcomings in factories he’s toured. It was Larry’s series, along with the current political disputes about facts and our own use of data to measure audience engagement, that cause me to highlight the use—and misuse—of data.
While Fast’s articles focus on plant-floor metrics necessary to drive continuous improvement, it’s not just a tutorial about how to set, collect and analyze plant-floor metrics. It’s a masters’ class about how to think about data.
Notably, Fast carefully explains the environment that he’s talking about; this makes clear (or should) that in different situations, other metrics would be used. As well, though he offers a list of areas that are likely candidates for tracking, he doesn’t dictate.
