Monetizing Data: Making and Implementing Smarter Decisions with Data
Thursday, May 11, 2023
What’s the cost to your enterprise of staff (and leaders) making a wrong decision? What’s the cost of delaying a decision for a week? A month? Or longer? What’s the cost of not implementing (or fully implementing) a correct decision? Who in your organization is ensuring that these situations do not occur?
Teaching staff and leaders how to optimize the entire decisioning process — from “what is the business value question?” to “identifying a meaningful actionable insight” to “assessing the effectiveness of insight implementation” is a key role for BAs to take on, especially since the decisioning process is rarely documented or actively managed. Imagine the financial benefits to your enterprise if you could decrease the percentage of wrong decisions, reduce decision delays, or accelerate implementation of insights!
- Explain how to ask the right business-value question so individuals and teams obtain a financial benefit.
- Outline three kinds of insights within a data set and why “meaningful, actionable” insights are most important to obtaining business value.
- Outline why business storytelling, not data visualization, sparks a decision to be made faster.