Thursday, April 10, 2008
Business Competency Model: Turning Around in a Quarter
Companies need an organization that allows faster responses to market needs, and differentiated products or services to survive in changing economic times. In the area of business analytics the issue is to leverage the knowledge within an organization that allows faster responses to market needs, and differentiated products of services. Business analytics allows everyone within an organization to visualized potential trends internally and externally. The premise is that the greater number of people within an organization that have access to the entire data the faster changes can take place. Since the amount of data is so large there must be a visualization tool that has the capacity to show the entire dataset, while simultaneously separating the clusters of data (i.e., what is in there?) and clarifying the driving factors (i.e., why is in there?).
Companies that outperform the market in tough times have shown to change their organizational model to reflect the times. In 2001 I wrote a paper which states that the changes in an organization start at the executive management committee level and it filters down to the entire organization. Therefore, companies which want to use business analytics to achieve their strategic objectives must have a business analytics committee within the executive management structure. I like to think about this area in terms of parents setting the examples within their own families: an example of how you do something has a greater impact than speaking about it.
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