I wanted to remind an ecommerce leader who wanted to bring all his platform data together something very important...
Data from different platforms doesn’t always play well together.
The Economist famously said data is the new oil.
I disagree.
I think everyone has too much oil, what we need are refineries.
Because PenPath is a “refinery” we know all too well that data doesn’t always integrate.
Some ecommerce leaders like the idea of having all their data connected, but that only sometimes makes sense to do.
Because ultimately, having all your data in one place doesn’t mean you'll have actionable insights.
A good way to think about it is to chunk the data based on its utility.
💡 Use the 80/20 Rule:
Sometimes, it's more sensible to group data by relevance, such as all revenue-related data, budget allocation data, or inventory data, rather than trying to mix all aspects of the business.
🧐 When Seeking Insights:
Ask yourself, what can you DO with the information once you access it? Sometimes insights confirm you are on the right track and provide peace of mind. Other times, insights enable critical decisions or adjustments to sustain or scale performance.
Group data sources that lead to action, facilitate understanding, or accelerate communication is critical for success. You can’t improve what you can’t measure.