Tuesday, January 5, 2016

What’s IT Role in Business Decision Management

Decision-making is a process, not an event.

At today’s digital dynamic, information is abundant and even explosive, the business has become over-complex also hyper-connected, what’s the correlation between data, information, and decision-making. And what’s IT Role in business decision management?

What’s IT Role in Business Decision Management

  • Analytics vs. Decision-Making? Analytics is a great methodology and tool enabling in making better decisions. However, there’s a significant difference between analytics and decision-making. Analytics can give you the best answer to the right question. The purpose of human decision making is to frame the right questions and validate the assumptions.

  • Who is Accountable for Strategic IT Decisions? Traditionally, IT has been treated as a cost center or a support function, not as a strategic business partner. As businesses move into the digital future, technology is the fastest growing arena, the potential innovation disruptor, and it would be an understatement that IT is complex. Though more and more CIOs are invited to the big table, the provocative debate would be: Is it true that certain IT decisions should never be made by IT people, if so who is accountable for strategic IT decisions? Or more broadly, what’s the best scenario to make IT decisions, and how to enforce IT governance as well.

  • Seven Reasons Why Decision Making is so Hard? Both business and world become over-complex than ever, making the decision right is both art and science. The biggest mistake some people make is limiting the definition of "decision making" to the decision itself. The definition should include the entire process including understanding the need, engaging key stakeholders, ensuring effective communication, assessing alternatives, developing consensus, planning, communicating, executing, and following up on the decision making. In other words, decision-making is a process, not an event. Decision making is an art only until the person understands the science (process, analytics. etc).

  • Data or Process, Which is More Critical in Decision Making? Decision making is a daily challenge for most business leaders because organizations become over-complex, hyper-connected, uncertain and ambiguous. What is more important to effecting good decisions within your organization? A sound process? Or the "best" (reliable and relevant) data? What’s your best scenario to make effective decisions?

  • Decision-Making in Digital Way: One significant effect of digitization is increased velocity, complexity, unpredictability, and a need for a faster response to changes in business and industry based on effective and efficient decision making. How is that possible? What’s the digital way to make the right decision? And how to avoid the pitfalls to make bad decisions?

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