Remove blind spots in your decision making: 3 steps
It’s not uncommon in organizations to sometimes ask the question, “Did we make the right decision?” The process of reconsidering a business decision often stems from uncertainty associated with either the lack of usable data or the use of questionable data, which can negatively impact a well intended data-driven decision making process.
The lack of usable data generally arises from poor information accessibility due to either gaps in employees’ skill levels or the fact that information is often walled off in silos—or both reasons. The struggle with questionable data often comes about when existing data mining methodologies focus on traditional KPIs without evolving to meet changing business requirements. This phenomenon hinders you from addressing increasingly important data sources, and uncovering previously unknown—but often critical intelligence—from such sources. Just like driving a car, the consequence of making a business decision without checking your blind spots could be serious.
But it is possible to mitigate these risks and improve the speed and quality of a decision using the following three-step process:
Step one: Assess your current situation
Step two: Plan your next move
- How do you get the complete picture?
- Is your organization missing out
- How can you accelerate ROI?
- How can you protect your investment?
Step three: Execute for success