According to the reading and Davenport (2006) a key factor in determining an organiztions ability to learn and become successful relies strongly upon the companie’s ability to collect, process, analyse data and implement decisions based on that data. This week was challenging for our team as we worked hard to make up for our previous roll overs performance. In many way we had become too confident with the allocation of money between departments and leading our region. In a way we I felt we were too caught up with the positive results from the previous week and didn’t crunch the numbers and analyse data efficiently. This resulted in overspending of cash and a significant drop in our share holder value.
The weeks readings I felt were very beneficial and raised some important points that can be applied and useful to the performance of our group. According to Davenport (2006) many industries offer similar products, use comparable technologies and business processes are amongst the last remaining points of differentiation. Competing in a market that is unstable and less predictable like Mikes Bikes means the analysis of data and competitors is extremely important in establishing a strong strategy and position in the market. It was clear the previous week we were far less clinical and precise when analyzing data and results.
I felt the readings this week were very beneficial as not analyzing our data and basing decisions off them was our greatest downfall last week. It is clear our team needed to analyze the data and reports very closely and thoroughly. We would then be able to allocate the money based on the data and conclusions drawn from the analysis of the data. By identifying areas of the reports that we can exploit for competitive advantage and areas that can be improved we will be able to make effective decisions and gain a point of difference from other competitors in our market.
Baghai, M., Smit, S., & Viguerie, P. (2009). Is your growth strategy flying blind? Harvard Business Review, 87(5), 86---96.
Davenport, T. H. (2006). Competing on analytics. Harvard Business Review, 84(1), 98--107.