From the course: Sales: Data-Driven Sales Management
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The golden rule
- We now live in a world where mountains of data and the collection of that data can sometimes feel overwhelming. Everybody wants more. And we're able to glean insights from that data like never before. But that's not to say we need it all. I remember reading a story about Starbucks, who had collected loyalty card information on over 7 million cardholders, and they came to a startling conclusion. People who were more loyal didn't require as many discounts and promotions as people who were less loyal. Now I don't know about you, but I'm sure you could have come to that conclusion before having to collect data on over 7 million people. Sure, we can make an argument that it's important to validate information for a company of that size, but there's a simple golden rule of data collection that I think is incredibly relevant to everyone taking a data-driven approach to sales. Here it is. If you can't explain why you want the data and how you'll use it to a 12-year-old, then you likely…
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