By Kimberly Clark on Nov 15, 2019 11:20:56 AM
Do you know which of your products are outselling the others? Which divisions are your highest performers? Regions where you are most competitive?
Sure you do, at least to some extent. You see your annual revenue figures – a snapshot in time, if you will.
But have you looked at these segments within your business on a rate-of-change basis to identify their own, individual business cycles?
This is where DataCast™ comes in. DataCast enables you to upload as many datasets as you want. Some business leaders may be able to look at their businesses in hundreds of ways; they don’t simply because of the amount of time needed to perform all of those calculations.
Fun fact: DataCast does it for you!
ITR Economics developed DataCast so that our subscribers could easily upload internal company data and begin to use our Rate-of-Change Methodology.
Using the rates-of-change shows you trends within the data that simple monthly rolling totals or calendar-year over calendar-year comparisons cannot. It brings the business cycle to life by showing which segments of your business are giving you positive or negative pressure. Watch this video to learn how.
Why is this important?
Rather than just giving a bunch of examples, let’s take a moment to think it through. As a business leader, what would you do differently, knowing that Division 1 of your business is in Phase B, Accelerating Growth, but Division 2 is in Phase C, Slowing Growth?
- Could you look to ITR Economics’ Management Objectives™ and determine which business strategies would be appropriate for the different divisions of your company? Yes.
- Could your understanding of the business cycle help you avoid making an untimely capital investment for a given division? Yes.
One way to see if this type of tool could be useful in your business planning is to take advantage of the free trial offer, upload your data, watch our methodology video, and bring your thoughts on the subject to your management team.
Before you know it, you could be using this seamless, online tool to help guide your internal strategic planning and, ultimately, maximize your profitability across all segments of the business.