Tim O'Bryan 270001NMX7 email@example.com | | Tags:  businessforecasting businessanalyticstoday forecast planning timobryan provenpractices strategy businessanalytics | 0 Comments | 1,027 Visits
What if you knew tomorrow’s winning lottery ticket number? Imagine the possibilities. Quit your job? Travel the world? Buy that convertible Bentley you’ve always wanted? Addition to the house? Pay off those nagging debts? Think about the impact of knowing what a stock price will be next week, or knowing when your car is going to break down, or exactly when your roof is about to start leaking? Better, what about if you had early insight into your future health condition? Now, wait a minute! Something seems different here. With regard to the winning lottery ticket number that seems a lot more unpredictable than say, picking a stock or determining when your car is going to break down not to mention forecasting potential health concerns. It certainly is different. I’m sure you can guess the difference between predicting the winning lottery ticket number and the other examples. I’ll state it anyway. It’s because in these other examples we can draw from historical data, analytical research, individual’s input based on their experience, and a vast array of data to more accurately determine what is likely to happen. Once you know this information you can begin to do some planning for these possibilities or scenarios. Seems pretty logical, right? We know how much information is being captured today by companies about their customers, employees’s insights, internal operations and external market conditions that there’s obviously not a problem with lack of data to do this predictive analysis. Yet, in a lot of companies today this practice does not happen with regularity. Companies aren’t using their most valuable resources available for forecasting – their people and their data – to develop this in-house capability.
by Larry Bossidy & Ram Charan
by Bjarte Bogsnes
by Chip & Dan Heath
Tim O'Bryan 270001NMX7 firstname.lastname@example.org | | Tags:  businessanalytics openpages clarity ibmcognos | 0 Comments | 1,242 Visits
Leveraging IBM OpenPages & Cognos Clarity for Risk Management, Disclosure Management and XBRL
Tim O'Bryan 270001NMX7 email@example.com | | Tags:  strategyexecution businessanalytics | 0 Comments | 556 Visits
Exercise daily. Star in your own sitcom. Visit the Great Pyramids. Run a marathon. Go hand-gliding. Drive the Pacific Coast Highway. Climb K2. Attend the Winter Olym
Goals. They can be our rudder out in the high seas of life that give us purpose and direction.
For the ones that don’t ever get accomplished the reasons vary but for a lot of us the reason for the missed goal is as simple as, “life just gets in the way”. We get distracted with other tasks that seemed more pressing - and even more interesting.
One of the perennial goal making exercises we all go through is the New Year’s resolution...Do you even recall what your New Year’s resolution was this year??? Notice I said was and not is. That was intentional. :) So many things come up over time that these things just get buried until we finally forget them completely. Harmless usually. They're usually fun things we'd like to start or stop doing.
All well and good if these are personal goals but what about your work-related goals? Suddenly, it is much more important that they get accomplished. That’s for certain. Even more importantly, how are these work-related goals measured so you and others can track your progress? (Are they even meas
In a time where companies and ‘the Street’ are so margin conscious in expecting more to be accomplished with less resources, purposeful action by the workforce has never been more important. Ensuring a productive workforce operating efficiently is critical to survive and succeed in today’s marketplace.
I've seen many organizations successfully and unsuccessfully deploy this Strategy Execution business practice. When done right, a Strategy Execution Framework can do many performance enhancing things to improve a company's bottom line. This Framework has a foundation built around using a collaboratively defined set of KPIs for each individual employee. In this framework, these KPIs as displayed in a scorecard tool are collectively 'networked' and aligned to the rest of the workforce’s scorecards which can all be aggregated together showing a direct causal tie to the company’s top-line goals.
Said differently, whatever the top-line strategy is, the contributing components, i.e. sales, marketing, services, finance, product development, etc. including the individuals within those contributing components, have a common framework in place to ensure the organization is marching along to the beat of the same drummer and not playing their own songs as they see fit. Without this framework the company loses valuable horsepower through reduced productivity because the workforce isn't aligned and fully accountable for meeting enterprise strategy-supporting targets. As a result, you’ll have employees doing what they think are the right things without any accountability and inherent strategy alignment. Worse, what happens as the enterprise strategy changes? How quickly is your organization able to realign itself to course-correct the direction of the ship so it’s headed towards the new target??? What are the consequences if your competitors are adjusting more quickly to these changes?
Well, hopefully the reasons for getting started on this initiative are clear. Still, it's surprising that there are not many companies responding to the need for greater accountability, sharper alignment, and more nimble adaptability of its most important resource, its workforce.
So, what are some tips for getting started with this initiative? Well, there are some clear must-haves when starting a project like this including getting C-level executive spon
Perhaps if we all implemented more personal scorecards for accomplishing our New Year’s resolutions we might have a higher success rate at that too but that's for another time.
Hope you enjoyed.
We are conducting a BICC research study over the next month. If you have any information you would like to share on BICC org structures or any other best practices and/or would like to be a part of this research study, please drop me a line here.
Some of the preliminary content we will be looking at for the research study include:
I would be happy to hear any feedback/comments on this research study, drop me a line on this thread and I will contact you for more information.
Forrest Palmer 270001YU2V firstname.lastname@example.org | | Tags:  bicc data_goverance data_quality bi | 0 Comments | 690 Visits
I often get asked about the importance of having your data in excellent shape - accurate, complete, relevant, etc - before you start using BI. The conventional wisdom, usually in IT, is that the data has to be right or the users will not trust it. Of course, that's true - to a point. The success of any reports, dashboards, scorecards or analytics often rests on the quality and trust people have in the data they see through that BI content. But the reality is that the data is never perfect. The "single version of the truth" (something I question as a goal but that's another day) is a journey that will never be reached 100%. So waiting until the data is completely trustworthy before rolling out BI is a folly that, in fact, will slow down the realization and need for data quality to be addressed where it needs to be addressed - in the business.
The truth is that data quality is often improved because of BI. While the first reaction might be to "blame the messenger" - the reports or tools that were used - the reality is that exposing data quality issues and discussing how to address them is essential to establishing the sense of ownership in the business and the subsequent need for governance programs that will continually improve the quality over time.
To be clear, we cannot build BI on top of truly bad data and expect that to be acceptable. Our data warehouses and data marts must meet a sufficient level of quality to make the use of that data valuable and meaningful. But don't let the quest for "the best" prevent us from starting our journey towards "the better".
Which means we need to move to both a information governance mandate and a BI governance (e.g. BICC) mandate that work in concert and alignment with each other. And that means that our information management strategy and our BI strategy have to be viewed together. Each depends on the other.
And yet too often companies are more focused on one or the other. Some companies start headlong into a BI strategy without any real consideration of the information management strategy that goes with it. The result is a truly failed BI initiative that will struggle to regain credibility. And there are probably just as many companies who invest a tremendous effort on data warehouse design and development, MDM, and data governance with little attention to how the business can effectively use all that data with BI.
So which comes first - the need for information governance and information strategy or the need for BI governance and BI strategy? Chicken or egg?
Tracy Harris 2700026WJ9 email@example.com | | Tags:  community competency business excellence of center intelligence | 0 Comments | 744 Visits
Organizational design around business intelligence and business analytics has been evolving over the last few years. We have seen many different types of formations and naming conventions around the business intelligence competency center (BICC), the Business Analytics Center of Practice, the Center of Excellence. They may be virtual or structured. They may report to the CIO, CFO, the CEO or a line of business. However, in a recent survey by the Business Applications Research Center, it has been found that organizations who have this formation in their organization outperform in every area that was measured.
And, regardless of the exact details of how it is configured, it appears that the most successful design is when there is both a shared service center and a larger community of stakeholders that keep in regular communication. Perhaps is it a Business Analytics Community of Excellence? We would love to share thoughts, organizational design ideas and best practices in this area. How is your organization currently structured for success?