Data can tell a business owner a lot about the decisions they should be making or the paths they should be following if they want to grow their business. However, with so many metrics to keep track of and so many variables at play at all times, understanding exactly what data to collect and what to do with it can be confusing, especially for new or inexperienced entrepreneurs.

Fortunately, the new year is the perfect time to reprioritize your efforts and map out new strategies for your data use in the coming months. To help, seven members of Young Entrepreneur Council discuss specific ways companies can use data to make smarter decisions and drive business in the new year—and how these efforts have helped their businesses too.

“This is the time of the year to ensure you have a meaningful financial package with charts, graphs and data that will help you understand your business even better than you already do.” – Jennifer A Barnes, Optima Office, Inc.

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