Knowing how your business is performing is the key to profitability and longevity. For high-growth product companies, having a clear picture of your operations metrics is essential.
Do you know how many orders shipped yesterday, last week, last month?
Can you easily calculate your sell-through rate of all your products?
Do you know your inventory-to-sales ratio, average order value?
Can you access your return rate, average shipping costs and day to ship in one click?
The old adage “You cannot improve what you do not measure” is more true than ever today, now that data is everywhere. And that’s the problem. It’s everywhere rather than somewhere…in one place…and presented in a clear and actionable way.
It takes a specialized skill to wade through the reams of operational data and surface the key metrics you need access to. You can find marketing and sales analysts on every corner, but operations data analytics is a unique beast all its own.
We use the systematized process below to gather, clean, analyze and present the key operations performance metrics for your orders, items, profitability and growth.
1. Execute our Operations Performance Review
Before we engage with a new partner, we always take the extra time up front to run through our Operations Performance Review, a two-day analysis of your business which allows you to see how we work and provides a roadmap for setting up your analytics package.
2. identify your data sources and structure
Let’s take a in-depth look at which applications generate your operational data and formulate a plan of how we can extract, transform, combine and prepare it for analysis. Ensuring you have a clean set of data we can trust is of the utmost importance at this stage.
3. establish key performance indicators
The sheer amount of data that will be available can be overwhelming, to say the least. We’ll narrow your focus to the most important operational numbers that should be driving you towards success.
4. construct your data warehouse
Using the latest technologies, we’ll set up regular data extraction intervals to combine your data into a modern and scalable container for reporting. You won’t have to rely on manual downloading and updating pivot tables much longer.
5. design your ops dashboard and reporting
Bubbling your KPIs to the surface in formats that are quick to read and easy to understand is the true magic of our data analytics product. You’ll have a single source of truth that everyone in your organization can look to for near real time information.
6. regular review of your data
Using our deep operational backgrounds as a guide, we’ll schedule regular reviews of your dashboards and reports to help you digest the information and ensure that you are tracking towards your goals.
7. recommend improvements
From these data reviews, we’ll identify risks to your growth and opportunities for improvements.
8. ongoing support
We’re big believers in long-term partnerships and we live by the operations mantra of “Always Be Optimizing”. We’ll provide ongoing support to ensure your data is always at the ready.