Taking risks can be a good thing, but when it comes to making important business decisions, hard facts and data prevail.
It can be hard to ignore your gut-feel in any situation, but properly defined, a person's gut-feel is really just a feeling or reaction given without logical rationale.
The information vs. emotion debate has been a topic of interest for many years. Before the age of big data and ever-present infographics, teams had little choice but to make decisions heavily influenced by emotion. Now I’m not saying you should totally ignore your instincts because they don’t exist without reason, all I’m saying is you should consider both when making important decisions that will affect your business in the long-run.
Using emotion AND data
There’s no doubt about it, data can completely flip the script. For example, you could go into a meeting completely convinced by one idea, and then be presented with hard facts. Besides feeling a slight hint of embarrassment, it’s hard to ignore facts, but you have to allow yourself to be able to change the way you feel about something when new information arises. You’ve heard the expression, “When you change the way you look at things, the things you look at change”, right? The key is in not caving in to pride. It can be hard enough to admit to yourself, let alone your teammates that your confidence in a decision or idea which was largely based on a gut-feel was actually wrong. But maybe it wasn’t entirely? There is a third option and its called, thinking outside the box.
Thinking outside the box is more than just a business cliché. It is a means of approaching challenges in new and innovative ways; conceptualising problems differently, and understanding your position in relation to a particular situation in previously unthought of ways. But then how is that measured? The same way anything is measured — through trial and error. Many are under the false impression that trial and error is just a slower way of getting where you want to go. The things we know now started off as untested and fresh ideas. New methods provide results, and these results translate into hard data over time.
It's about being data-informed, not data-driven
Mavenlink have put together a comprehensive, real-time project analytics tool, giving teams access to information they need for real results. In order for you to gain control over margins, improve resource utilisation, and better forecast revenue and costs, you need enterprise-grade business intelligence and a powerful custom reporting engine.
Why is real-time important?
In order to be successful in a business, you need to be able to make informed decisions swiftly. Real-time data is a must when it comes to staying ahead of the curve.
Mavenlink’s real-time project analytics tool allows users to assess task-status, resources, and client engagement which ultimately reveals the health of projects so you can make speedy, informed decisions on a day-to-day basis as opposed to weeks after months close. Users benefit from up-to-date resource utilisation and profit margins.
Get the visibility you need to make swift and informed decisions
Mavenlink Insights bring enterprise-grade business intelligence to every project delivery team.
Interactive Expert-built Reports, allow for the discovery of trends that impact business outcomes to forecast future performance using reports built by Professional Services experts.
Custom Reporting Engine Tailor Insights provide answers to unique and complex business issues with an interactive ad hoc reporting engine. Users can clone and modify existing reports, or build their own from scratch.
Naturally, high-performance businesses ask a lot of questions, and thankfully answers are available. Designed by a team of professional services executives, Mavenlink Insights deliver top-line performance indicators at a glance, allowing you to drill down and identify root causes. Thirty-seven interactive reports and visualisations reveal performance metrics across the entire project delivery business.
Eliminate costly manual exports with fully customisable dashboards that meet team needs. Build reports and graphs with drag-and-drop simplicity, leveraging all your data from the entire project delivery life cycle.
Uniquely positioned as the only solution ranked as a leader in two prominent and fast-growing software categories, Mavenlink could be the answer you're looking for when it comes to business intelligence.
Read more about our partnership with Mavenlink here.
July 22, 2019
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