Lesson 5: How to Ask the Right Questions With Your Data

Introduction

Data can’t answer questions you don’t ask.

Let me make this personal. I started a business that was doing well, which peaked in the middle of COVID-19. COVID-19 forced us to pivot our product offerings, and surprisingly, it turned out to be the best decision we made. Sales soared.

But I sat on the data. The most I did was use it for deliveries and a few follow-up calls. I didn’t ask deeper questions that could have helped me maximize that momentum.

The result? Missed profit opportunities.

Interactive Prompt:

What questions are most pressing to you in your business right now? Fill out this quick form, and we’ll cover your answers in future lessons.

Fill Out the Form

1. What’s Selling Well (or Not)?

To find your best or worst-selling products, ask:

Which products bring in the most revenue?
Which product gives the least profit?
What sells only during promotions?

Here’s a snapshot from Bessie’s business. Can you spot the underperformer?

Date	Customer Name	Product	Quantity Sold	Unit Price	Total Sale
2025-05-04	Adey	Soap	5	10	50
2025-05-11	Bambi	Cream	3	15	45
2025-05-18	Chinedu	Soap	6	10	60
2025-05-25	Dolly	Lotion	6	20	120
2025-06-01	Ejiro	Cream	7	15	105
2025-06-08	Fiona	Lotion	1	20	20

Tip: Soap brings in the highest sales volume.

Cream generates the most total revenue.

Lotion, though priced highest, sells the least.

Consider bundling Lotion with your bestsellers or offering a promotion to test demand before retiring it.

2. Who Are My Best (and Worst) Customers?

Understanding your customer base helps you market smarter:

Who shops most often?
Who spends the most per order?
Who refers friends or family?

These are your VIPs. Treat them as such with loyalty perks, early access, and referral bonuses. These go a long way and keep them coming back!

Quick Exercise: Chinedu buys soap 3 times monthly ($30). Ejiro buys lotion once ($20). Who’s more valuable?

It depends! Chinedu offers consistent revenue, while Ejiro might be buying a premium item. Your Profit margins and business goals should guide your answer.

Your Turn: Define what makes a customer valuable in your business.

3. Where Is My Money Leaking?

Here’s a real example. At Leecious, our hibiscus and yogurt sales dropped mid-year, but production stayed the same. We ended up wasting product and offering unnecessary discounts.

Your Turn: What signs in your data could’ve warned you earlier?

What do you track daily that might point to waste?

Smart Questions to Ask:

What products sit on shelves the longest?
Am I discounting too often?
Are delivery fees eating into my profits?

4. Build Your Own Question Set

Write down 5 things you wish you knew. Then translate them into questions your data can answer:

Wish I Knew...	Ask Instead...
Why do sales drop every March?	What are my monthly sales trends over time?
Who hasn’t come back in 6 months?	Who are my inactive customers?
What product gives the most profit?	What’s the profit margin for each product?
Why are my delivery costs rising?	What are my logistics expenses month-to-month?
What do my top customers buy?	What items are most frequently bought by high spenders?

In Summary

The quality of your questions will shape the quality of your insights.

Ask better. Know better. Grow smarter.

Need help turning your questions into insights?
Let’s unpack them together. Shoot me an email!