In recent years, there has been a growing interest and also investments made in expanding and developing some technical skills such as Big Data, IOT, Business Intelligence, just to name a few. But are these efforts producing the expected results?
- If you work at a mass production industry with a high degree of process automation you will need to have real time reliable information for fast responsiveness. In this case, it can be suggested to you to take a deep look on IOT solutions with connection to business intelligence dashboards. In other words, linking real time data directly from machinery and been analyzed by BI dashboards. This example can be applied for Packaging Manufacturers and Consumer Packaged Goods Factories, just to name a few.
- However, more common nowadays, are initiatives to improve business management through the development of BI management dashboards from ERP Systems and other databases. But many of these BI initiatives fail, among other reasons by: excessive concern with technology, partners whom do not understand business language, difficulty on integrating business visions, methods and tools…
The fact is that the decision-making process is not a simple and trivial activity. It requires a lot of knowledge in addition to mastering technology, as it will be essential to choose the correct variables that affect the main business decisions, map the sources of information, qualify the data and transform data into valuable information to manage. To better understanding the concept, it is highly recommended to read a disruptive book on this topic.
The Haystack Syndrome: Sifting Information Out of the Data Ocean (Eliyahu M Goldratt). Written in 1990, this book is still ahead of its time. The issue of data and information incongruence continues to be a hot-button issue in every boardroom. A “must” for every manager concerned with meeting the challenges of the 21st century. Goldratt examines the differences between data and information in a new light and shows precisely how misunderstanding those differences can affect the quality of the decision-making process.
If you want to know more about how to improve your MOS – Management Operational System – do contact us. @Voltarion and we can partner with you on this journey of continuous critical decision making.