Data- Facts, figures, statistics. Always start with data.
Information- A translation of the data into something meaningful.
Implications- Meaningful information should be useful for decision making.
Data Ex. 63% of the Denny’s morning (6am – 11am) customers are aged 55-75 59% of Denny’s morning item sales are from customers aged 25-45
Info Ex. While it may appear that Denny’s older customer base is strong, they provide proportionally less sales and yet require higher levels of service due to more time at the table. Older customers (55-75) are less profitable than younger (25-45) customers.
Implications Ex. Focus on growing the younger customer base, because they spend more and cost less to service.