Leveraging Data as a Strategic Asset
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The power of data analytics in business is widely acknowledged; despite this, many firms have difficulty reaping the benefits. Why? They face two main challenges: (1) understanding what analytics can and cannot do when making business decisions, and (2) integrating analytics into every aspect of the organization, rather than relegating it to a separate corner of the firm.
This program is designed to help executives leverage analytics to improve their decision-making skills across their organization. Through a combination of discussion, simulation and experiential exercises, participants will develop a clear understanding of what decisions analytics can help them make, and the best way to transform analytics insights into strategies.
- Analytics-Driven Strategy – Understand the difference between correlation and causality, why it matters for strategic decision making and how analytics can be used to develop data-supported strategies
- Analytical Tools – Explore both dashboard-based and multivariate-based analytical tools that facilitate better decisions
- Value of Data – Recognize the need to build decision-centric organizations, and learn how to foster a culture that fully utilizes data and realizes the value of investment in analytics
Session 1: The Potential and Limits of Data Analytics
- Understanding what questions data analytics can and cannot answer
- Introducing data-driven decision making by linking data with strategy
Session 2: Data-Driven Decision Making
- Applying data to real world decisions
- Understanding how the difference between correlation and causality does–and does not–affect decision making
Day 1 Conclusion and Evaluations
Session 3: Beyond Descriptive Data
- The potential and benefits of multivariate insight
- Guided exploration of using regression to make decisions and achieve better insight
Session 4: Decision-Centric Organizations
- What it means to build a decision-centric organization
- Applying decision-centric organizing to your organization
Program Conclusion and Evaluations
Who should attend
Although there are no formal education or background requirements, this course is designed for executives who meet the criteria below. While we strongly encourage global participation, please note that all courses are taught in English. Proficiency in written and spoken English is required.
- Years of Experience – Designed for professionals with 5+ years of work experience
- Job Functions – Ideal for professionals responsible for analytics-based projects or reports, or who interact frequently with data analysts
- Prerequisites – Intended for individuals with strong business knowledge but limited or no knowledge of the technical side of business analytics