Time tracking & business insights

Being successful through analysis, instead of hunches

The world is quickly becoming more data-driven. Both smart web companies (Amazon.com and Booking.com) and successul sports franchises (Boston Red Sox, Houston Rockets) simply refuse to make decisions based on hunches; they always check the stats first.

Making data-based decisions avoids human errors in judgment, most of which stem from the way our brain is wired – which is, slightly less logical than we like to acknowledge.

So –┬áif you run a service-based business with people logging hours, you should do the same. Never fire a project manager on the hunch that he may have underperformed; check the data if he isn’t any less efficient than other PMs. Never expand your staff because of growing revenues only – check the data if you actually made any profit off your operations.

And how do you get that data? Why, of course, that’s where great time tracking helps. Software that people actually like to use, because it gives them insight and a sense of company transparency. You may have heard of… Yanomo?

This also goes if you’re a startup. As Pat Kiernan writes on CNBC, there’s a series of questions that he asks again and again to startups pitching for money:

1. What does that cost to produce, and how much do you sell it for?

2. What’s your most profitable product?

3. Who is your least profitable customer?

4. When do you do most of your business?

5. Who is your most productive employee, and how do you measure that?

6. What was your revenue last week?

How can you know all of the answers without a proper time tracking system in place? You can’t. That’s why you should consider our great software. And with our free trial period, you’ll get your money’s worth before you even spend a dime!

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