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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 analyticsHarvard Business Review, 84(1), 98--107.

1 Comment

  1. Hi Julian:

    In week 4 i said that you show a clear relationship between the reading and your example, i am very pleased to see you took my advice and started to some key understanding towards the reading by reference and relating the problems introduced in the readings to your specific mike's bike scenario. You have identified that not fully analyzed the data and reports very closely and thoroughly is your greatest downfall, and the solution of course make decisions based on the data, it is very clear however i think this part can be improved by illustrate specific examples such as how to make precise decision decisions, based on those data, for example did product A grow in terms of sales? If it did not, did other firms product grow? if they did from the data can you tell why did they grow and you did not?

    Overall a good learning journal you have certainly improved compared to the last time i reviewed your journal, good luck with your team (big grin)

    Kindly Regards

    Martin