The power of Questions; a master key to your business value analytics

Much wisdom and value can be discover by knowing how to ask questions. There is power in it. When apply within a business value generation context, asking question and the right kind of questions can open doors to value generation.

Drucker once says; ?'It is more important to ask the right question than to get the right answer’

The inability to ask questions that relates to the potential of discovering value for your business will be your missed opportunities. Some faces the following challenges;

?1.??Don’t know what to ask – this often comes from the lack of understanding of your? own business enterprise and subject matter. If you think about it, very few enterprise have little or no problem. As such if you are familiar with your own enterprise you will almost surely know there are problems (be it operations, financial, systems, process etc.) and hence will know there is always something (some important questions) to ask for solution or answers.

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2.? Don’t know how to ask – this aspect requires practice and trainings. And remember, there are different setting in asking questions. There are those that happens in a large crowd (conference, seminars etc.) and those that happen within a small group of like-minded people. Whichever setting you are in, learn to be comfortable with it and practice doing it.

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3.??Asking non-strategic questions – when given a chance to ask questions, always focus on strategic questions. You are given an opportunity to ask, learn and be wiser. This is when you learn the most and also will be viewed as knowledgeable as long as you do it tactfully and not come across as info-digger.?

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Do learn to develop strong capabilities of the above. Even in today age of A.I (Artificial Intelligence), you need to know how to prompt (this term means Ask Questions) to those Gen AI to reap its benefits. Next, make sure the information that you have gathered from your questionings be used to transform it into your greater advantage in shaping your business value proposition.

Apply your questionings strategy in the following way;

?1.??Understand Your Target Audience – the best market survey is from asking the customers and experts directly. It is the simplest, most economical and fast. You get to shape your questions according to the person you are asking. You get to see and understand their non-verbal feedback. And this can take place anywhere, anytime for you do not know when you see a potential customer.

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2.??Test and Make Adjustments – with the answers and feedback from your questions, you can form hypothesis and test it out to have a double confirmation. The more you get it tested, the firmer your hypotheses becomes. Upon doing this, what you input into any analytics will be more solid and substantiable.?

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3.??Differentiate Yourself from Competitors – when you have gather the information and feedback, you can create analytics to analyze customers, business and financial trends. Financial modeling and analytics can make good use of it to do predictive analytics. And you can modify the analytics freely according to the types of information you gathered through asking questions. This will differentiate yourself from your competitors.

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4.??Create Clear and Targeted Message – with the financial and business trends and analytics, you can create a clear message to your stakeholders. And your message is so much more convincing because the root of the analysis are founded upon your questions and answers from your target audience. "If you can describe your customer’s problem with analytics better than they do, they will believe that you have the solution to their problems".?

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So the power of Questions can be a master key to your business value analytics. The real value generation is how you will make use of those information for trends and analytics that leads to strategic decision making and expected results.?

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