Data Analysis: Things to Consider Before You Get Started

I spend a lot of time looking at Excel spreadsheets full of data from our CRM database in order to see the story that the data is telling me of where we have been and where we are at now.  This allows me the information I need in order to advise our gift officers on what they need to focus on so that they may achieve (and hopefully exceed) their annual goals.

If It Is Not In the Database, It Didn't Happen
An analysis is only as good as the data being used.  If there are pieces of data that are missing, or not recorded accurately, the analysis will be flawed before you even begin.  Make sure that you have a process in place that not only insures that the data is entered into the database, but also insures that the data is entered correctly into the database.  A little quality control goes a long way.

A Single Piece of Data is Not Enough
Simply looking at numerous rows and columns of data in a spreadsheet is not enough to tell you what you need to know.  You must drill down within the rows and columns of data in your spreadsheet in order to find the individual data points that are most relevant to what you want to analyze.  For example, when looking for who has been a large donor to your organization - are you looking for a one-time donation, or cumulative giving?  The donor who makes a one-time gift of $1,000,000 is a very different type of donor than one who has made 50 gifts over their lifetime that total $1,000,000. Knowing the number of gifts someone has made can be just as important as knowing the total dollar amount of gifts that someone has made.


Master the Tools You Have At Your Fingertips
Some of us have access to more sophisticated software that allows us to do higher level statistical analysis, which is great if you have that available.  However, most of us will only have access to Excel. Regardless of what software you have available to you, the key to being able to perform a good analysis it knowing how to use the tools that you have available to you.  If you are not an expert on the software you have, you need to work towards becoming one.  Luckily, you can always teach an inquisitive prospect management/research professional new skills as long as you point them to the right resource, and as long as they are a self-starter.  There are a number of  online resources available that will help you to become an expert with your software, or at least to be enough of an expert to do a thorough analysis.  A great place to start is with the actual software vendor.  They often have online tutorials and videos on their own websites that will help you to learn learn how to use the software.  There are numerous videos available on YouTube.com that walk you through particular skills and show you how to use various features of your software.  You can also look into a free online class through websites such as Coursera.org or EdX.org.  These free online courses can help you to master some of the more advanced skills. Some organizations have access to Lynda.com which has online training videos that you can watch at your own pace. 

Death by Analysis
You could easily spend all day diving down each rabbit hole in order to look at your data in various ways - breaking it down into tables, pie charts, pivot tables, bar graphs, etc. that would show your team a multitude of aspects of the data.  However, that level of analysis may only be interesting to a select few people on your team (in fact, it actually may only be interesting to you).  Before you dive into the data analysis, you need to have a firm grasp on what is going to be relevant, truly important, and will resonate with your gift officers.

Now, go forth and analyze your data!  However, be sure that you have done the necessary groundwork first.  Make sure you have good data, you know what you want to look at, you have the skills necessary to use your software to your advantage, and you don't over do it with more analysis than the team needs.