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Improving Business Outcomes with Data

Data-Driven Business Outcomes

Your business outcomes mirror the level of your data literacy.
That’s because utilizing data is essential to managing your business processes, product value, stakeholder and top management objectives, collaboration between departments,data-driven decisions, and so much more.

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Data is mission-critical for your business – but why?

It’s simple. Businesses today, however different in purpose, process or product, still share many of the same problems. That includes fighting inefficient work processes, competition struggles, fulfilling the expectations of stakeholders and customers, and putting priority on innovation and sales. All of which can be solved with data.

The business world is going data-driven. Depending on your data to drive successful business outcomes is key; from knowing which KPIs to track, to quickly visualizing and sharing data insights so everyone is enabled to be their own data scientist.

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Data-Driven Business Outcomes
Data-Driven Business Outcomes

75% of companies want to be data-driven.
And yet, ONLY 29% of them know how to use data to make decisions.

To be truly data-driven, use a DATA CATALOG in your daily workflow and get from insight to action in seconds.

Measure Business Success Better

Following the right metrics is everything. Starting from the top down, you can use Slingshot to grow your team’s data literacy while at the same time pinpointing the data insights you need to follow to improve your business outcomes. Managing your stakeholder’s expectations and improving your business processes revolve around data. All you need to do is use the right KPIs to track performance and business impact, tying data to results and transparently seeing what needs improvement.

High-level KPIs for CMO Slingshot dashboard

Reduce Time and Efforts in Decision Making

Every business relies immensely on data, but the collected amount, even monthly, is huge when running multiple campaigns. Slingshot is a way to collect and process data faster and decide the most important operations in your business on the go, without leaving your flow to answer questions. And that’s not all. In Slingshot, you can create team discussions or project related tasks from dashboards, so that your data-driven insights become data-driven actions.

Slingshot Growth Hacking dashboard with insights using data sources

Succeed in Cross-Departmental Collaboration

An organization’s processes should flow between departments, especially when it comes to data. Making sure your sales, marketing and product, or PR and HR departments are aligned is vital and impacts business outcomes, as well as customer, brand, and product services. Slingshot’s Data Catalog puts your company’s data in one place so that it is easily accessible and intuitive for everyone to use, share and discuss.

Slingshot data catalog with certified dashboards for marketing, sales and human resources

Recognize New Business Opportunities

You can identify new opportunities faster and smarter with raw data insights transformed into beautiful dashboards, showing the way to outperform your competitors through the power of data. Identify underperforming areas in your campaigns, strategy, and business and make a change in the right direction. Want more specifics as to how? Check out MLB Residential Lending’s success story here.

MLB Residential Lending dashboard with insights and opportunities to drive numbers up

Frequently Asked Questions

A business outcome is the end-result of both internal and external company activities that are aligned with the overall organizational goal. Examples of business outcomes are current and past profits, customer retention, customer interactions, brand popularity, monthly sales numbers, and many more. The business outcomes reflect the objectives of the business since the team’s efforts are aligned with them.

Measuring business performance is important because it leads to organizational improvement and better performance management. An effective performance measurement brings a deeper understanding of goals, long-term efforts, failures, areas of improvement, potential mistakes and new opportunities going forward. It also serves to identify strengths and weaknesses compared to the competitors.

Data-driven business outcomes are the secret weapon that allows businesses to make a huge jump forward. Data-driven business outcomes are the result of data-driven decision-making (DDDM) that helps brands make accurate prognoses, so their teams can make sure they are on the right path and direct their marketing and other activities in the best interest of the company.

With analytics, businesses transform through data-driven decision-making. Overall, it improves collaboration and brings smarter strategies and dependability. By relying on data companies improve all aspects of their day-to-day operations because they can analyze patterns and extract valuable and relevant conclusions, use data as the central advisor across all departments and reach better strategy and execution, to select the right way forward and grow more rapidly.

Slingshot is the only digital workplace that serves as a uniting tool for whatever type of data-driven strategy your company needs, plus team collaboration. Slingshot lets you have all your data information immediately, at a glance, eliminating the need for multiple applications usage by combining project management, file and information management, chat in context (everywhere in the app), task management for your team, and of course, connecting to all your data sources, accumulating the insights and telling the story in beautiful dashboards with just a few clicks. Slingshot also offers a data catalog feature to bring together a full library of your data in dashboards, helping you access and reference your goals and results at any time.

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