How large organizations should invest end of year budgets that future proofs powerfully
The end of the year is an exciting time to look back on the achievements and challenges of the past year and plan for what is coming next. This is also the time to look at the surplus budget and debate where to spend it efficiently.
This is also a good opportunity to take notice of the real Elephant in the Room: Global aggregated data is not enough to understand the cultural nuance behaviours that results from Global macroeconomic impacts. However, extracting the granular data is difficult and incurs high cost where not all involved parties are willing to contribute.
It is good to look back on the questions that arose through 2023, understand the wins and misses, and realign priorities to know where to go next year. Before spending on anything else, value rank data first and use that as a guide on where to invest leftover budgets best.
Better insights do not always equate to more data. There can be less data, but it comes with a deep understanding of data layering and how each dataset contributes to the validation we must prioritize. After this comes the validation of business value in nuance. To do this, we have to look:
Opening up silos across teams
Prioritize through categorization
Cluster through multi layer granular data
Define value output of data filters
To achieve long-term ROI, organizations should focus on key areas where multiple datasets and a highlight of the pain points that should be addressed. Balance between the “lean” and “fat” areas of datasets to know which areas can be filled in. Lastly, determine which datasets would best serve the business.
Scaling data by connecting nano insights allows the clustering of behaviors that can be understood at the Global level that scales authentic connection. Take a look at some of the key steps below that keeps out costs low and acceleration high:
Organizations can make good use of the surplus budget at the end of the year by investing in solutions that would help scale and extract needed data to build authentic connections with the consumers at the market level. Want to know how? Book a complimentary workshop here where we highlight your Elephant in The Room
MYN Group’s Elephant In The Room Workshop highlights areas where your organization can prioritize. We look at the friction points that prevent scaling and automating cultural validation and turn them into business value. At the end of the workshop, we’ll help you come up with three strong slot-in slides that advocate the business opportunity with validating solutions. These slides would highlight the cause of the challenge, how this impacts business, and its contribution to future-proofing vision. Click here to know more about our workshops.
MYN Group bridges the disconnect between global top down strategies and bottom up market-level connection. Our #MYNHerd translates macroeconomic factors into microeconomic decisions while preserving cultural nuance. We interpret nano level data where commonalities scale successful impact at the global level. We're the "grease" that gets corporate gears moving, getting things done, replacing friction with focus.
Want to know more on solutions? Email email@example.com and discover how we can partner.