Who is your answer person?

My wife, Tina, was in full CEO mode this weekend. As we were getting ready to explore 50 ice sculptures in downtown West Bend, WI, she asked what it was like outside.

It took three tries to get the answer she needed. She didn’t want a directional ‘really cold’. She didn’t want the air temperature. She wanted the ‘feels like’ temperature with wind chill. Like a true business leader, she wanted the best info possible to make a decision!

So it made me think of a lot of companies I’ve worked with. Who is the answer person? You know, the person everyone goes to ‘get the data’ for important decisions.

It really depends on the size of your company.

At larger companies, it’s a financial analyst, who works with the CFO to create “what if” tools, analyze results, develop financial forecasts, and evaluate investments.

At smaller companies, it’s someone blessed with professional curiosity, an interest in data, and initiative to innovate outside their direct job duties.

Faced with this reality, smaller companies are at an information disadvantage. They have to overcome three barriers to acquire ‘decision support’ expertise:

They’ve never experienced the value first-hand

Budget constraints

Talent competition with bigger companies

If information is an asset larger companies invest in, the next question becomes, how much more profit could you make if your decision makers regularly had the information they need, how they need it, and when they need it?