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Gary Cokins
Gary Cokins
Founder and CEO - Analytics-Based Performance Management LLC

Analytics-Based Performance Managent LLC
Manager, Performance Management Solutions

Websites:

You can be #1 in Analytics! Here is How.

Posted about 8 years ago

Where would you rank yourself and your organization with applying analytics to gain insights and make better decisions? Are you advanced so you can out-smart other organizations like yours to create and sustain value creation? Or are you at the opposite end of the continuum and muddling through by basing decisions and strategies relying on intuition and gut feel rather than using fact-based data, modeling, and probabilistic what-if scenarios.

I believe you rank as number one with lots of 1’s. You already have a leg up! Why?

Do this math: Take the last two digits of the year of your birth and the age you will have or already had this year and then add them (e.g., 63 + 48 = ?). My crystal ball tells me you will have 111. Am I correct?

This is a special year for you. Just look at these dates this year: 1/1/11, 11/1/11, 1/11/11, and 11/11/11.

Don’t ignore these signals. They are telling you this is the time to apply analytics (like regression and correlation analysis) and embed them into enterprise performance management methodologies like strategy maps, scorecards (with key performance indicators), customer / citizen value management, risk management, and rolling financial forecasts and projections.

Today there is just too much uncertainty and volatility. Oil prices, new technologies, Euro currency fluctuations, H1N1 swine flu, volcanic ash, earth quakes, and tsunamis just to name a few. Without applying business analytics and enterprise performance management you will be floundering and constantly reacting rather than being proactive and quickly planning and acting with agility.

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