Data Driven: Dashing Toward Data
Catastrophic results can occur if all key business stakeholders are not privy to the corporate dashboard, and are instead using their own individual results to measure success.
For example, a multichannel direct marketer in the apparel industry failed to deliver a dashboard to the merchandising department. By forgetting to include email campaign sales and orders in its department results, the merchandising group established holiday inventory buys assuming that certain styles were well below plan.
The reality, however, was that through targeted emails, the styles in question were actually selling above plan. Significant potential sales were lost during the holiday period due to lack of available inventory.
Providing all key business stakeholders with a weekly dashboard of current results allows for a uniform understanding of business trends, the ability to rapidly affect change if necessary, and efficient planning for future campaigns. It needs to be maintained as a priority in someone’s job description.
Philippe Graner is director of marketing strategy at the Mission Kan. direct marketing agency J. Schmid & Associates. Reach him at email@example.com.