What type of data should I use with Max?

Maegan Morrison
Maegan Morrison
  • Updated

Max works best with analyzing business performance datasets. Business performance data refers to the collection of quantitative and qualitative information that reflects how well a company is performing in various areas of its operations. This data is used to measure, evaluate, and manage the effectiveness and efficiency of a business, and helps in making informed decisions to drive growth, profitability, and sustainability.

Business performance data can encompass a wide range of metrics, including but not limited to:

  • Financial Metrics: These include revenue, net income, gross profit margin, return on investment (ROI), and other financial ratios that indicate a company's profitability and financial health.
  • Market Metrics: These evaluate the company's position in its industry and its competitive landscape, such as market share, growth rate, and brand recognition.
  • Operational Metrics: These measure the efficiency and effectiveness of a company's core business processes, such as production, inventory management, and customer service. Examples include throughput, lead time, order-to-delivery time, and on-time delivery rates.
  • Customer Metrics*: These reflect the company's ability to satisfy and retain customers, such as customer satisfaction scores, customer retention rates, customer lifetime value, Net Promoter Score (NPS), and cohort analysis. 
  • Human Resource Metrics*: These provide insights into the company's workforce and how well it is managed, including employee turnover, absenteeism, productivity, and employee satisfaction.

*Metrics marked with an * indicate that these are not currently ideal for use in Max but may be suited for analysis in the future.

 

Business performance data is often tracked and analyzed using Key Performance Indicators (KPIs), which are specific, measurable, and relevant metrics that help businesses focus on critical aspects of their performance. Max will use this business performance data to answer questions about the overall health of the business, provide opportunities or corrections, identify changes of key business indicators, help achieve a goal, and more.

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