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It is now time to consider how data should be reported to upper management. To begin with, there are a number of ways to report your insights and findings. Some of these include:
What are upper management really looking for in order to make decisions quickly? Well, they want access to real-time tools that you can use to help them to make decisions on a daily or even an hourly basis. You may also need to have weekly meetings or conference calls. You need to specify comprehensive reporting at specific times. Moreover, there needs to be that combination of real-time reporting versus bulk batch reporting to come up with different layers of insights. These all drive different decision-making processes.
You also need to have exception reporting because, while there will always be regular analysis, you need to think about the more exceptional incidents. For example, if anything you need to determine how an exception will be handled if it arises.
‘So-what’ analysis can be useful to stress test the impact and value of your recommendations and insights against common perceptions in the business. This is basically when you look at your results or your recommendations and you think “So what?”. What is the implication of the analysis to the business?
Some of the best practices for reporting data to upper management include:
However, be mindful of what not to report to upper management. Here are some suggestions:
Jack Preston is a Data Scientist working within marketing analytics, with a particular focus on strategic customer loyalty. Jack has experience working in both small-scale startups and large corporates, including dunnhumby and Notonthehighstreet. He also holds an MSc in Business Analytics from UCL where he graduated with distinction.
ABOUT THIS DIGITAL MARKETING MODULE
This short course covers the principles of analytics and demonstrates techniques and useful tools that you can use to develop and refine your knowledge of data analytics.
You will learn:
Approximate learning time: 3 hours