Fractional CFO : Scaling E-commerce Brands from 7 to 8 figures through Financial & Data Analytics : Husband & Father x4 : Former Semi-Pro Soccer Player : Lover of Olives
Are you measuring data or gaining insight from your data? There's a difference. Measuring data is easy: - Setting KPIs - Gathering data - Analyzing it But it doesn't always lead to useful insights. Insight is harder: - Asking why - Digging deeper - Finding the root cause Now take that to your financials. Here's an example....which is overly simplistic, but you get the idea. Measuring data: "We had a surge in sales last month." Insight: "The sales surge was due to a new marketing campaign we launched." Insight allows you to understand why things are happening, so you can make informed decisions. So, next time you're analyzing your financial metrics, ask yourself: Am I measuring or gaining insight? Or an even tougher question....are you looking at your financial data?????? #ecommerce #ecommercetips #dtcbrands #cfo #dtcwealth
Partner - Accounting & Tax Services | Helping Accounting/Tax Firms build offshore teams focused on solving their unique set of problems & pain points
4mosuch an important perspective Jarrod Souza, biz owners need conclusions they can draw from the data that their business and financial systems create. I think a great service to owners would be to present them the data along with a recommendation which they can a) understand b) find directly useful in decision making