If they are not performing then we need to let them go as soon as possible! These were the words I heard from the supervisor as they shared about ways to eliminate waste in their organization. I shared with them a simple question that changed the trajectory of the conversation as it relates to leadership…”What does the data say about their productivity for the last six months?” It was as if a shot had rang out. Their next words were a key point of growth for any leader, “I’m not sure…” “How can I find that out?” I told them that we must do our due diligence and gather the data.
Leaders & Data Mining
Data mining is defined as the process of analyzing data from different perspectives and summarizing it into useful information. It is essentially sorting through data to identify patterns and establish relationships. Data mining enables organizations to determine relationships between elements such as demographics, performance, price, product placement, competition, or economic factors.
Data Provides Important Performance Information
When consumers provide personal information to organizations, data mining allows them to use those records to extract additional information about them. Behavior patterns can be detected and interpreted. The process of data mining automatically analyzes large quantities of data to extract previously unknown patterns such as groups of data records, unusual records, and correlations. Retailers often use this information for marketing purposes. With the data, they are able to target promotions to specific market segments. As indicated in the true story up above, employers are also large-scale users of data mining.
Predictions Help Create a Path
Data mining can help spot sales trends, develop smarter marketing campaigns, and predict customer loyalty. The ultimate goal of data mining is to predict, or create a snapshot of actions that provide a clearer picture of related outcomes. The effective use of this technique can enable organizations to gain an advantage over its competition by better understanding the behavior patterns of their customers. At the end of the day, leaders must leverage this arrow in their quivers if they are going to maximize follower retention and related follower performance.
Point of Clarity Quote:
It is a capital mistake to theorize before one has data.
– Sir Arthur Conan Doyle
