Tag "decision making"

Power of data

When it comes to using data to drive business, organizations such as Google or Facebook are iconic… When they started in 2007, big data was not what it is today. All four Vs that define big data—volume, variety, velocity, and veracity—were at lower levels. But perhaps more importantly, there was not much previous experience of working with big data and using it to drive decision making in organizations. At that time, the question was still out as to whether having all that data is useful. Today, the feeling is that the value of data has been proven, and it’s more of a question of how to get it.1

Diligent businesses are those that ensure data privacy and security while leveraging its multiple advantages.

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Building compassion

In their book, Awakening Compassion at Work: The Quiet Power That Elevates People and Organizations, Monica C Worline and Jane E Dutton say that “compassion at work is neither a luxury nor an ideal. Organizations cannot afford the hidden costs to human capability that come from perpetuating suffering. In desperate need of new sources of adaptability, collaboration, innovation, quality, and engagement, workplaces must turn toward making compassion at work a reality.”* However, it should be kept in mind that there is no shortcut to building a compassionate culture and that the onus is on the leadership.

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keep it slim

Researchers Raaj Sah and Joseph Stieglitz argue that hierarchic style organizations produce problems like the rejection of good projects without reason. The greater the number of organizational decision-making layers, the greater the probability that a good project will be rejected that would have otherwise had a positive impact on the company’s growth.1 Are flat organizations then the ideal solution for a faster go-to-market strategy?

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navigate with ease

Gartner predicts that, through 2017, 60% of big data projects will fail to go beyond piloting and experimentation, and will be abandoned.1 For an analytics project to truly deliver value, organizations should have a well-defined script in place.

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