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5 Cross-functional Analytics Challenges
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Re: Sub-optimal
  • 11/6/2017 12:04:49 PM
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Kq4ym, you are citing personal gains such as a performance bonus. Sadly, the draw of a payout to the individual manager will overrule the long term organization benefit too often. It's wise to identify these potential conflicts early and address them.

Re: Sub-optimal
  • 11/6/2017 7:29:33 AM
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Certainly the long term outlook is preferential, in the long term. Of course, there's going to be those situations and managers who believe in the short term, who will short circuit those long term plans citing all sorts of reasons why it's necessary. A balance is probably the best solution to those opposing ends.

Re: Sub-optimal
  • 10/29/2017 5:58:40 PM
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Balance is key in everything. The mature organizations don't sacrifice the long term vision for the emmidiate or short term gain. Planning effectively should address the decision process when the short-term appear to conflict with the long term goal. I liked the reference to mature analytics.

Re: Sub-optimal
  • 10/27/2017 7:19:52 PM
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@Lisa - yes, I use confidence intervals where possible. This doesn't mean that the decision makers always understand what p-value means.

Re: Sub-optimal
  • 10/26/2017 2:06:14 PM
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@Predictablechaos, do confidence levels play into your decisions?

 

Re: Sub-optimal
  • 10/26/2017 12:37:43 PM
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Running a business successfully requires the ability to balance. Both short-term and long-term are important. One can't ignore customers or stockholders.

So another problem I've seen is just plain fear.

We've always done it this way and it works pretty well. The data is telling us to do some things differently. How do we know, for certain, that the new way will work. It looks good, but not enough to bet the company on yet.

Re: Sub-optimal
  • 10/26/2017 9:00:10 AM
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Trying to get to those short term results may be a function of how the human brain usually works, we try to get the immediate as opposed to the long-term. Overcoming that instinct is not always easy to do but of course in the long run are our fortunes determined.

Re: Sub-optimal
  • 10/26/2017 12:49:46 AM
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I've also seen analytics efforts that were harmed by an overly short-sighted management.

If your only focus is this quarters financial results, you won't be able to make investments into analytics that pay back nicely in six months to a year.

Of course if management is focused only on the short-term, your business is probably not around for the long-term.

Re: Sub-optimal
  • 10/25/2017 1:39:46 PM
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@Predictablechaos, how true.  That's one reason why the cultural aspect of change management is so critical.

Sub-optimal
  • 10/24/2017 11:33:40 PM
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The problem I've seen most often is strong departments with weak cooperation across departments. The CMO will deploy analytics to make sure the marketing budget can be well justified. The COO will have a similar effort to ensure the efficient operation of supply chain and production. And so on for other departments.

But just optimizing the departments is sub-optimal for the organization.



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