Driven by the Data - Chris Borduas - Leadership in Action- Episode #020

01/18/22 • 46 min

For so many people today, anything to do with data management or analysis is seen as something for IT to do or very math intensive. However, Chris Borduas, the Owner of Tillerman, LLC., knows a much more accurate and vibrant side of data management which he is here to share. Learn about how the creative elements and the data analysis mix to make more informed decisions, the importance of understanding your end-users, and how to avoid some of the all too common traps in analyzing data.

Takeaways:

Data management is much more than just a function of IT, at its core data management is about understanding a need, figuring out how to serve that need, and how to get the information that you need. It’s really a creative exercise more than anything.
There are three components of data management: 1. Where do you get the data; 2. What do you do with the data; 3. How do you make it into something you can use to help run your business.
In data management, you should really be trying to simplify the process for people so they can more easily understand and use the data. If you want to drink a glass of water, you can’t drink a single glass of water if it’s coming from a fire hose.
To simplify the process for people, there are three steps and questions you have to ask: 1. What’s out there and what do we need; 2. How do we consolidate it into something you can use; 3. Understand the end-use of it.
Before you start analyzing data make sure you know what question you’re trying to answer. For example, know what KPIs are going to tell you whether something is a good investment or a bad investment to you.
Avoid falling into the ‘Perfection Trap’ of getting caught up in chasing down a >1% variable. Don’t let perfection get in the way of strong directionally accurate information because perfection doesn’t exist.
Directionally accurate information is very valuable, especially when you have the ability to make quick decisions based on the directions shown in the data to get ahead of trends, etc.

Links:

LinkedIn: linkedin.com/in/chris-borduas-9a59593
Website: https://www.tillermanusa.com/TillermanUSA/Welcome.aspx
Article: https://www.mytotalretail.com/article/how-retailers-can-get-the-most-from-their-pos-data/

Quote of the Show

“We're trying to get the right people, the right information they need to make the best decisions they can” -Chris Borduas

Book Recommendation:

Blue Highways by William Least Heat-Moon

Ways to Tune In:

Apple Podcast - https://podcasts.apple.com/us/podcast/leadership-in-action/id1585042233
Spotify - https://open.spotify.com/show/2t4Ksk4TwmZ6MSfAHXGkJI
Stitcher - https://www.stitcher.com/show/leadership-in-action
Google Play - https://podcasts.google.com/feed/aHR0cHM6Ly93d3cubGVhZGVyc2hpcGluYWN0aW9uLmxpdmUvZmVlZC54bWw
Amazon Music - https://music.amazon.com/podcasts/4263fd02-8c9b-495e-bd31-2e5aef21ff6b/leadership-in-action
YouTube - https://youtu.be/tTdIc931fCM

Takeaways:

Data management is much more than just a function of IT, at its core data management is about understanding a need, figuring out how to serve that need, and how to get the information that you need. It’s really a creative exercise more than anything.
There are three components of data management: 1. Where do you get the data; 2. What do you do with the data; 3. How do you make it into something you can use to help run your business.
In data management, you should really be trying to simplify the process for people so they can more easily understand and use the data. If you want to drink a glass of water, you can’t drink a single glass of water if it’s coming from a fire hose.
To simplify the process for people, there are three steps and questions you have to ask: 1. What’s out there and what do we need; 2. How do we consolidate it into something you can use; 3. Understand the end-use of it.
Before you start analyzing data make sure you know what question you’re trying to answer. For example, know what KPIs are going to tell you whether something is a good investment or a bad investment to you.
Avoid falling into the ‘Perfection Trap’ of getting caught up in chasing down a >1% variable. Don’t let perfection get in the way of strong directionally accurate information because perfection doesn’t exist.
Directionally accurate information is very valuable, especially when you have the ability to make quick decisions based on the directions shown in the data to get ahead of trends, etc.

Links:

LinkedIn: linkedin.com/in/chris-borduas-9a59593
Website: https://www.tillermanusa.com/TillermanUSA/Welcome.aspx
Article: https://www.mytotalretail.com/article/how-retailers-can-get-the-most-from-their-pos-data/

Quote of the Show

“We're trying to get the right people, the right information they need to make the best decisions they can” -Chris Borduas

Book Recommendation:

Blue Highways by William Least Heat-Moon

Ways to Tune In:

Apple Podcast - https://podcasts.apple.com/us/podcast/leadership-in-action/id1585042233
Spotify - https://open.spotify.com/show/2t4Ksk4TwmZ6MSfAHXGkJI
Stitcher - https://www.stitcher.com/show/leadership-in-action
Google Play - https://podcasts.google.com/feed/aHR0cHM6Ly93d3cubGVhZGVyc2hpcGluYWN0aW9uLmxpdmUvZmVlZC54bWw
Amazon Music - https://music.amazon.com/podcasts/4263fd02-8c9b-495e-bd31-2e5aef21ff6b/leadership-in-action
YouTube - https://youtu.be/tTdIc931fCM

Previous Episode

No More Silver Bullets - Dale Bertrand - Leadership in Action - Episode #019

Businesses new and old are all looking to digital marketing to provide the one cure-all solution to all of the company’s challenges. Here to shatter this wistful illusion is Dale Bertrand, the founder and president of Fire&Spark, who has a lifetime of experience with digital marketing. Learn how to assess and approach digital marketing for businesses of all sizes, why you always need to be talking with your customers, and how to experiment with and implement digital marketing tactics

Takeaways:

It may not be what you want to hear, but there is not a single silver bullet digital marketing tactic that will fix all of your business woes. If digital marketing is even right for you the approach you take is entirely dependent on your company’s unique situation.
For young companies, it’s more important and valuable to focus on finding where the first customer is going to come from than where the millionth customer comes from. Try to think about just one customer and what you can do now to really wow them.
It’s a myth that if you use a digital channel, you won’t have to talk to any customers and you can still be successful. Talking with customers informs you on the effectiveness of your messaging, what interested them in the product and why they bought it.
For companies that are just starting out, call your customers and understand why they bought, and listen carefully to what they say and what words they use. This can help you understand the ‘why’ behind the story of the data you’re seeing.
Established companies have more mature marketing, however, they should constantly be improving their messaging, targeting, and product or service so it’s remarkable within that space.
In established companies, try out $500 experiments that run for two weeks each. Try different channels, regardless of how they performed in years prior as your messaging, targeting, and product offerings have improved since then.
Don’t attribute the failure of a $500 experiment to the channel, the failure is likely more because the combination of messaging, targeting, etc. was not optimized. Find what worked in the campaign and what didn’t and apply those lessons in the future.

Links:

Quote of the Show:

“Let’s think about where’s customer number one going to come from, not customer one million” - Dale Bertrand

Book Recommendation:

The Thought Leader’s Practice - by Matt Church and Peter Cook

Shout Outs:

Bureau of Digital
Carl Smith
Entrepreneurs Organization
EO Accelerator Program

Ways to Tune In:

Apple Podcast - https://podcasts.apple.com/us/podcast/leadership-in-action/id1585042233
Spotify - https://open.spotify.com/show/2t4Ksk4TwmZ6MSfAHXGkJI
Stitcher - https://www.stitcher.com/show/leadership-in-action
Google Play - https://podcasts.google.com/feed/aHR0cHM6Ly93d3cubGVhZGVyc2hpcGluYWN0aW9uLmxpdmUvZmVlZC54bWw
Amazon Music - https://music.amazon.com/podcasts/4263fd02-8c9b-495e-bd31-2e5aef21ff6b/leadership-in-action
YouTube - https://youtu.be/_pzxCPfYY1w

Next Episode

Unplugging to Recharge - Kristin Chambers - Leadership in Action- Episode #021

So many people believe the key to their company’s success is to wake up at 5, strap into the grind, and burn all the midnight oil they can find. But this is a flawed perspective and by actually getting space from your business you can be more effective when you are working on it. Entrepreneur, CEO, and Travel Designer, Kristin Chambers is letting everyone know the keys to work on themselves before they work on their businesses. Learn about how to unplug, the importance of committing to fully unplug, and what the copious benefits of unplugging are. One of Kristin’s favorite ways to unplug is to travel and you’ll hear many more great ways too.

Takeaways:

It’s no longer cool to be the CEO that’s working 24/7 and is completely burnt out. You can actually be more efficient if you are more meaningful and intentional with your time and connecting with others outside of the business world.
Before you put even more work into your company, you have to work on yourself! Get yourself into healthier habits, rekindle and or feed relationships with loved ones, and find your “why?”
Set aside time to unplug from your company. Don’t try to just partially unplug, it’s important to completely unplug which means not checking your email... at all. Commit to fully unplugging.
Spending time away from your company actually makes you want to get back to it and start working on it again with renewed vigor.
A good way to communicate with others that you are “unplugged” is by scheduling “Out of Office” time into your calendar. This tells others that if they need something they better come to you while you’re still plugged in
Travel is a great way to recharge. Most of the world is slower-paced than the US and by embracing this cultural difference while traveling it opens you to a new perspective and helps you to relax and recharge.
When booking a trip, try using a travel agency to remove the stress, find better rates for lodging and airfare, and discover new experiences custom-crafted for you.

Links: