Driving decisions with data and analytics
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Driving decisions with data and analytics requires syncing business goals with results. Key challenges include failing to identify important data and having a risk-averse culture. The path to success involves holistic performance measurement, monitoring progress, prioritizing issues, and controlling outcomes. The presentation concludes with recommending data-centric and analytics-based solutions followed by a data-driven culture and performance management approach.
Driving decisions with data and analytics
- 1. Driving Decisions With Data and Analytics Md MozammelHoque Enterprise Consultant Presented by Bangladesh Institute of Management Organized by
- 2. Make smarter decision and quick actions. Sync between business goals and results. Objective
- 3. What are the keys to driving decisions? Why right measure matters while selecting? What next? Key Questions
- 4. Findings ❖ Failing to sync business goals and results.
- 5. Challenges ❖ Failing to indentify and prioritize which data matters, i.e. poor data literacy. ❖ Risk-averse cultures, i.e. fear of change, neglect of change.
- 6. Path to success • Holistic understanding of benchmarking and performance measurement. • Performance Management: Monitoring, Tracking & Tracing, Prioritizing and Controlling. Value of Company = f(Value from Customers) Evaluations of Service Quality = fn (Experience - Expectations) • Right Data: Power to answer Bring the RIGHT Information to the point of impact so that RIGHT decision can be taken and executed promptly by the RIGHT people at the RIGHT time and at the RIGHT place using the RIGHT tools and RIGHT model. (In 2016 the 7 Rights was introduced in my research paper of “Business Process Analysis and Optimization: A Pragmatic Approach to Business Operations” presented at the Faculty of Business Administration, University of Chittagong, Bangladesh
- 7. Performance Management Thought • Activity Based Performance Management (ABC/M) • Time-Driven Activity Based Performance Management (TD- ABC) • Analytics-Based Performance Management • Enterprise Performance Management (EPM) • Holistic performance management • Process Optimization Based
- 8. Solutions to be Built ➢ Data-centric and Analytics-based solutions followed by data driven culture and Performance Management.
- 9. Live Demo Live Demo on Business Service Monitoring
- 10. THE END