Tuesday, March 1, 2022

Inneranalysis

It is a journey to build a solid analytics capability in the overall organization. It needs hard work, persistence, resilience, a deliberate strategy, and a comprehensive platform to make it happen.

The whole purpose of analytics is to make better decisions based on data big or small. You can call it with any name like decision science or engineering. The fact is that change is happening at a much faster pace than ever before, requiring a much more rapid response in order not only to succeed but to survive. 

The days when businesses spent months doing all sorts of analysis and preparing detailed plans are gone. Nowadays, information-based intelligence touches almost every critical aspect of business. Analytics has no value until they inform decisions, optimizing various business management, directly or indirectly related to long-term revenue and organizational maturity.

Perception and research analysis: Perception is an interpretation based on people’s beliefs, insight, conditioning, or surroundings, etc, leading them to judge others or make decisions. Perception is usually subjective; If you look for the good in things, you will find them and if you look for the bad in things you will find them too. Discerning professionals who present perception and research analysis skills can make sound judgment to deal with fast-paced changes and continuous disruptions.

Either individually or collectively, how we wish to impact the world creatively has to be in alignment with perception. Misperception can be fixed by leveraging perception analysis, listening to different viewpoints, digging beneath the superficial layer, consciously updating perceptions for things you are not sure or people you do not know well. The purpose is to proactively search for fresh knowledge, deep insight, bridge cognitive differences, make objective perception, in order to make effective decisions and fix problems thoroughly.

Inclusive and holistic analysis: Contemporary organizations have a hyperdiversity of people, process, culture, etc. Inclusive analyses address all relevant elements of the organization, including interfaces and interactions associated with human, organization, machine, and environment. It’s crucial in making sound decisions, especially at the strategic level. Because you need to have a big picture thinking to understand the interconnectivity of the parts and the whole, being inclusive to learn from diverse people, leverage multiple variables via analysis and synthesis, in order to make better and objective decisions.

We must face diversity, inspire inclusiveness, orient people and make them aware of the diversity in their organization or team, and help them understand the value of harnessing the differences, bring in new ideas and fresh perspectives to make new creations and build better futures together. There are boundaries to what is appropriate and when. Inclusive analysis always helps us learn from diverse people in shaping an advanced mindset, participating in creative activities and progressive movement in a consistent way.

Progress impact analysis:
Analysis is concise analytic work and takes a short term approach, more looking at the root cause, as well as the context in which it has happened, and then expanding into being a larger picture to solve larger problems logically. High-intelligent businesses can sense and create new markets before competition. They are able to leverage impact analysis, align the business activities that have a three-way impact - Revenue, Cost and Investments.

You can only manage what you measure. In fact, impact analysis and business readiness are two key processes that need to be conducted to give the management a glimpse of what to measure. S.M.A.R.T goal-setting works better as a post evaluation tool. Goals are the key to driving accountability, but what makes them effective is how they are implemented. Impact analysis is also about assessing the level of impact on solving different problems. You set the priority for problem-solving. What is very rigorous and systematic is the analysis of the original business problem, product issue, opportunity, marketing dilemma etc. Where deviations from expected seem material, then some level of analysis to discover the causes would generally be started, and then based on that analysis, some putative cure would be put into action. Further impact analysis is needed to improve problem-solving effectiveness.

When analytics becomes part of daily business action within across-business teams, only then, it gets into the fabric of an organization. It is a journey to build a solid analytics capability in the overall organization. It needs hard work, persistence, resilience, a deliberate strategy, and a comprehensive platform to make it happen. The goal of analytics is not to get the report built, but to capture business insight holistically.

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