Remove the Guesswork: How Data Drives Business Success

Doubt can be one of the biggest challenges for business owners. If you’re like most leaders, you’ve probably had moments where you wake up feeling uneasy about the direction of your business. You check in with a few employees, hoping to get a sense of how things are going, but what you get instead are subjective opinions—conflicting perspectives that leave you with more questions than answers.

The reality is that only factual information can provide the basis for productive discussion and decision-making. Running a business without clear, measurable data feels like operating in the dark. The good news? The right numbers can eliminate uncertainty, create accountability, and drive better results.

The Problem with Subjective Decision-Making

Many businesses rely on gut feelings and assumptions rather than hard data. This leads to:

• Inconsistent goals – Without clear benchmarks, teams struggle to stay aligned.

• Slow or misguided decisions – When leaders make choices based on opinions rather than facts, they risk steering the business in the wrong direction.

• Lack of accountability – When there are no numbers to track, employees and teams don’t know what success looks like.

As the old business maxim states: "Only what gets measured gets managed." If you’re not tracking key data points, you can’t effectively manage performance or identify areas for improvement.

Choosing the Right Data Points to Track

Not all numbers are equally useful. A profit and loss statement is important, but it’s a trailing indicator—it tells you what happened in the past, not what’s coming. To run a business effectively, you need leading indicators that provide real-time insights into performance and progress.

Core Metrics That Drive Success

Here’s how to determine the right data points for your business:

• Identify leading and lagging indicators

• Leading indicators predict future success (e.g., number of new leads, production efficiency).

• Lagging indicators measure past performance (e.g., revenue, customer retention rates).

• Focus on 5-15 key numbers that truly reflect business health

• Sales: Number of leads generated, conversion rates.

• Operations: Project completion time, customer satisfaction scores.

• Finance: Cash flow trends, recurring revenue growth.

• Keep it simple – The goal is to create clarity, not overwhelm your team with unnecessary data.

Creating a Scorecard for Accountability

Numbers cut through murky, subjective communication between managers and direct reports. Instead of asking, “How are things going?” you can look at the data and know exactly what’s working and what’s not.

A weekly scorecard is one of the most powerful tools a business can use to stay on track. It should:

• Focus on a handful of critical numbers that indicate whether the company is on the right path.

• Assign clear ownership – Each KPI should have someone responsible for tracking and improving it.

• Be reviewed consistently – A number that’s off track shouldn’t be ignored—it’s an opportunity for discussion and course correction.

A well-structured scorecard creates clarity, commitment, and accountability at every level of the organization.

The Impact of a Data-Driven Approach

When a company runs on measurable data rather than opinions, everything changes:

• Numbers create accountability
  Employees know what’s expected and take ownership.

• Numbers are appreciated by accountable people
  High performers want measurable goals.

• Numbers create clarity and commitment
  Everyone knows what success looks like.

• Numbers create competition
  Teams are motivated when performance is transparent.

• Numbers produce results
  When you measure something consistently, it improves.

A data-driven culture transforms the way teams operate, leading to smarter decisions, faster problem-solving, and better outcomes.

Let the Numbers Guide You

Businesses that rely on assumptions will always struggle to maintain clarity and direction. But those that commit to tracking key data points gain control over their future.

Start by identifying the right numbers, implementing a simple scorecard, and using data to drive accountability. When you remove the guesswork and let the numbers guide you, you create a stronger, more efficient, and more successful business.

NOTE: This blog shares insights from the EOS (Entrepreneurial Operating System), a proven framework that has been key to IGN’s success. By implementing EOS, we’ve grown, aligned our teams, and achieved consistent results across the organization.