1. Build an analytical system — not a document repository
Grantmaking runs on information as the epicenter. That’s why it’s so important to collect and understand your data on an ongoing basis. With the right insights, grantmakers can have more constructive conversations with their donors, applicants, awardees, and boards.
Despite collecting a wealth of information, grantmakers often find themselves struggling to make sense of it all. That’s because insights are often buried in PDFs or Word documents — or even paper-based processes. In other words, you may not be able to see the story that your data is telling you. That means you’re not getting the full value from your data.
To overcome this challenge, you need an analytics system that can answer important questions and help with assessing impact. Systems-thinking can help grantmakers assess progress towards goals such as breakthrough scientific contributions, diversity, inclusion, and publications impacted.
With more data in the systems, questions become easier to answer, faster.