The number🥇one priority of Data and Analytics leaders should be establishing the decision management practice in their first 100 days.
Decision Management is the most important practice in organizations, and it enables them to make data valuable. By far, this is the most practical approach to ensuring that organizations start leveraging data in their decision-making processes. With leveraging data, I definitely do not mean “data for decision,” i.e., a data-driven approach; I mean “data by decision,” i.e., a decision-centric approach.
💣Decision-Centric Approach® puts business decisions #decisioncentric in the center of organizations. It ensures business operations are efficient by shifting the focus from data and processes to business decisions. It brings people, rules, data, and processes together so they can make optimized, situation-aware, and customer-centric business decisions while aligning with business objectives.
🤔What are the steps?
– In a business operation, start identifying all business decisions that are made daily
– Decompose the business decisions to smaller, easier-to-understand decision units
– Determine the dependencies and relationship between the decision units
– Identify the situation where those units are activated
– Determine metrics, inputs, and outcomes of the decision units
By following these five steps, you will create the blueprint for business decisions—a set of decision graphs that clearly depict how decisions are made and give you a clear path to prioritize them based on their impact (metrics) on the business decisions and their associated objectives and KPIs.
🚀The #Data and #Analytics leaders can use this blueprint of operation (the decision graphs) to identify what data is important. This approach not only saves them tons of time and money to leverage the right data but also adapting to “data by decision” will empower them to elevate the conversation to the business level rather than treating the data and analytics as a technology function. Additionally, this approach opens the doors to leverage the data in the #ai field, such as #machinelearning #rules #optimization in decision-making. No waste of time and money in #dashboard, #report #bi #businessintelligence anymore.
Learn why the data and analytics leaders should prioritize decision management in their first 100 days at https://lnkd.in/g4ZREgY8
#CDO #CAO #CDAO #DecisionIntelligence
Published May 11th, 2024 at 07:30 am
