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Data to results
Data to results
Data to results
Data to results
Data to results
Data to results
Data to results
Data to results
Data to results
Data to results
Data to results
Data to results
Data to results
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Data to results

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  • 1. Data to Results by Jess Wiley www.3dprofitability.com
  • 2. Analytics • The use of data, commonly referred to as analytics, as a decision-making tool has rapidly increased across every type of industry. • The book Analytics at Work: Smarter Decisions, Better Results states that “by analytical we mean the use of analysis, data, and systematic reasoning to make decisions.”1
  • 3. Analytics Many organizations are seeking to become more analytical and use the appropriate types of information to make better decisions. There are several necessary steps in this process of implementing an analytical capability throughout any organization. . .
  • 4. Steps to being Analytical… High-Quality Transaction Data Support of Senior Executives Application throughout the Organization Analytical Skills and Culture in Place Integrate Analytical Capabilities into the Business Source: Davenport, Thomas, Jeanne G. Harris, David W. De Long, and Alvin L. Jacobsen “Data to Knowledge to Results: Building an Analytic Capability” California Management Review, 2001
  • 5. “A company in the information age has unprecedented access to transaction data, but all too rarely is that data sifted into the sort of knowledge that can inform business decisions and create positive results.”3 This collection of data is the first step towards creating knowledge that can improve the results in your business.
  • 6. They understand the importance of running the business, not just on gut, but by using powerful information to make better decisions. Business intuition should never be ignored, but with the addition of fact-based decision making the company could reach new heights.
  • 7. Thirdly, it is necessary to have a need or application for this information throughout an organization. It could be said that some companies don’t have a great need for the type of transformation that we are talking about.
  • 8. Please note that ‘analytical skills’ does not mean that one is a high-level mathematician, but that we know what decisions to make when presented with various analytic scenarios.
  • 9. I have used the below graphic to depict this transformation demonstrating that as your ability to deliver and receive data improve so do the results that are realized. Results Delivery ReceiptData Information Knowledge Source: Bellinger, Gene, Durval Castro, and Anthony Mills “Data, Information, Knowledge and Wisdom”, 2004, www.systems-thinking.org
  • 10. This is a continuous process of educating new and existing members of the company, as well as producing valuable analytics. At that point your organization can become an analytical one that successfully combines experience and insight with the knowledge that really good information can provide.
  • 11. Where is your organization? High-Quality Transaction Data Support of Senior Executives Application throughout the Organization Analytical Skills and Culture in Place Integrate Analytical Capabilities into the Business Source: Davenport, Thomas, Jeanne G. Harris, David W. De Long, and Alvin L. Jacobsen “Data to Knowledge to Results: Building an Analytic Capability” California Management Review, 2001
  • 12. Thank You Jess Wiley, President Distributor Management Services www.3dprofitability.com
  • 13. References 1. Davenport, Thomas, Jeanne G. Harris, and Robert Morison Analytics at Work: Smarter Decisions, Better Results, Harvard Business School Publishing 2010 2. Pericle, Tony Transforming Data into Action: Using Analytics for Better Distributor Sales Decisions, National Association of Wholesaler-Distributors, 2010 3. Davenport, Thomas, Jeanne G. Harris, David W. De Long, and Alvin L. Jacobsen “Data to Knowledge to Results: Building an Analytic Capability” California Management Review, 2001 4. Viaene, Stijn and Annabel Van den Bunder, “The Secrets to Managing Business Analytics Projects,” MIT Sloan Management Review, Fall 2011 5. Bellinger, Gene, Durval Castro, and Anthony Mills “Data, Information, Knowledge and Wisdom”, 2004, www.systems- thinking.org

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