Using data effectively can significantly impact a company's bottom line, but collecting and tracking it can be challenging due to the increasing number of specialized products used in business operations. A SaaS company with 50-100 employees can spend between $200k and $500k annually on supporting its data efforts, which is not a core function of their business. It's essential for companies to start measuring their activities as early as possible, regardless of the size of their customer base, to collect useful data that can drive decision-making. Companies should narrow down their key performance indicators (KPIs) to two or three critical metrics and focus on collecting relevant data rather than trying to measure everything. A unique identifier for each customer is crucial for matching records across different systems, and it's essential to include this ID in every app used. Implementing a simple marketing attribution model, organizing data with a simple structure, knowing the source of truth, using automation tools like Zapier, and resolving discrepancies quickly are also critical steps in effective data collection and analysis. By following these fundamentals, companies can streamline their data collection efforts and make more informed decisions.