Data Analysis: Key to resource management

Lately, I got a chance to evaluate the resources of a company and its allocation. In my jaw-dropping experience, I learned that only 10% of the company's human resources is responsible for 80% of their businesses. Further to my surprise, the head of the company never worked on these details and never tried to utilize the rest of the employees in the best possible way. During a discussion with the 50-year-old leader, I witnessed an ignorant but pragmatic person who eventually understood the data story.

I have changed the labels on the data visualization as I just intend to suggest leaders work out strategies to utilize their resources in the best possible way. This is also not rocket science. Historically, companies wait for a complete year to get the data from various departments to analyze who is being utilized to the fullest. Now the world has changed and many companies devising data visualization softwares to take prompt decisions and get the maximum yield out.

If you see the above dashboard for a company business opportunity analysis, you would find interesting facts. On the top left, we can see in total of 21 million USD in business opportunities. Among them, business 1 (BUS 1) has over 20 million. The rest of the businesses are not contributing significantly. Similarly, Employee 4 (right bottom graph) has the highest sales volume expectation, while the rest of the employees contribute meagerly. This is because emp 4 is responsible for BUS 1.

In the top right corner, we can see the number of opportunities is present more with Employee 2. But in terms of volumes, it's around 0.22 USD. This shows that most of the business is coming from a single business sector under a single employee. The main question is why the rest of the employees and businesses are not generating enough money. Is this matter of competency or something else? Is this anomaly temporary or this company always has this issue?

After analyzing the last five years, I analyzed that 80% of the business was coming from BUS 1. Irrespective of the fact which employee is leading the business unit. So one thing is clear it has nothing to do with employees. Then I worked with global data and noticed that BUS 1 performs generally well in the majority of the countries. Then we analyzed a bit on why other businesses are not performing well. We noticed that most of the time other businesses lose sales because of the high prices in price-competitive markets.

We have two suggestions for the head of the company. One he can work on the prices of their products in other businesses. The second option is he can merge the responsibilities of other businesses into a single employee and utilize the rest of the employees in BUS 1 which has more potential. The head of the company understood the power of data and asked me to perform more detailed data analysis so we have much more insight into the business.

Data analysis is very important to constantly check your business. Many times standard operating procedures do not give us complete and detailed insight in a timely manner. The absence of insightful information leads to a loss of business opportunities which can be yours by slight changes.

So remain ahead in your game with the right data analysis !!!