Are you 'in the know'?

By David McLean
June 22 2024 - 12:00pm
Are you 'in the know'?
Are you 'in the know'?

A key aspect of professional management is to convert records/data to meaningful information. My observation is that many businesses have loads of data and records, however are short on meaningful information. What is the difference? Let's look at a current example I've been working recently through with people - reproductive performance (the four-legged kind). Records and data are purely numbers and notes - e.g. you had 970 females and 35 bulls on the place. Meaningful information is where we convert the data into something that can support decision making, e.g you joined 890 females at 3.9 per cent joining. Now we can consider the 3.9pc joining. Is that adequate, too high or too low? If too high, what can we do to reduce it (and therefore our annual bull cost)? If too low, what is the associated risk?

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