In God we trust… everyone else please provide data

Posted on: March 24th, 2016 by Staffan Engstrom
On an occasion when I turned up to see my boss with perhaps a few too many opinions based on rather too few facts, he gave me this helpful principle: “In God we trust, everyone else please provide data.”

Over the years, I have found that critical business drivers are frequently handled by their management teams in a rather woolly manner. For a lack of good information, key issues can be crowded out by low priority myths.

Please provide data…

That is why I struggle with over-waffly strategy meetings. I try to hard to focus strategy discussions around the facts, thus wiping away the irrelevant or plainly incorrect. Don’t get me wrong, management opinion is very, very important, but it needs to be empowered with robust analysis in order for it to work.

Here is a great example: A Client of mine has been looking hard at how to better understand the size and shape of its markets, enabling them to decide how and where to invest. The attached white paper gives a brief summary on how to assess markets.