With data at the forefront of decision making processes, managers and small business owners must be careful of spinning data.
Data spinning tactics occur when the data collected is presented in such a way to ensure or influence a specific thought or outcome.
Being able to understand what information makes up the numbers behind data charts and percentage numbers helps managers make better informed critical decisions.
Many accountants realize numbers don’t mean the same when certain methods are used. Logistics supervisors know specific methodologies behind supply chain and inventory management can alter the outcomes of the business’s financial performance.
Tech stacks sometimes make it hard for small business owners and managers really see what information is behind the visualization charts. It is vital to create a specific method to be used in reporting information that help make decisions for your business.
Decisions can be made understanding how data is collected and presented minimizing the pitfalls of potential spinning data by having a standard method of reporting and processes.
Rhodes Porter representatives are available to help you understand more about creating standard methods of reporting data that makes sense to your company.