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It is ironic that human skills have led to such great technological advances and that now technology has the ability to provide us with increasingly great opportunities to truly understand customer behaviour and act in order to optimize business outcomes, but at the same time often what holds us back from optimization are inherent human flaws. These flaws take many forms and may for example range from anything such as unwillingness to work in teams, to the inability to communicate effectively, and often impact on the decision-making process and therefore impede us from taking full advantage of all of the insights data offers.
Decision-making is crucial in the analytics process of taking insights found in data and making real, performance-enhancing changes. This post, to be the first of a few that will focus on decision-making, will describe 3 models of decision-making: Digital Insight Management, the Lean Analytics Cycle and RAPID. Following posts will discuss the true implications of each model and their weaknesses.
Developed by: By Paul Rogers and Marcia Blenko of Bain Company
RAPID is a model created to help organizations define the decision-making process for the highest-quality decision making, strongest performance and ability to learn from previously made decisions.
It focuses on:
Process: In Decide & Deliver, Rogers, Blenko and Michael C. Mankins propose a 5 step process for implementing RAPID:
Developed by: Eric T. Peterson & Sweetspot
DIM revolves around leveraging your existing investment in Digital Analytics and Optimization to overcome organizational obstacles and effectively capture and communicate insights.
It focuses on:
Process: Eric T. Peterson has outlined 10 steps for successfully undertaking DIM
Developed by: Alistair Croll and Benjamin Yoskovitz
The Lean Analytics Cycle was developed with the aims of helping start-ups, and other companies, ACT quickly, continually LEARN and make constant IMPROVEMENT in a fast-paced market.
It focuses on:
Process: Avinash Kaushik, in his post on the Cycle, has outlined 4 steps for carrying out the Lean Analytics Cycle
Does your organization use any of these decision-making models?
VP of Business Development for Sweetspot. Responsible for strategic brand development, marketing and business development. BA/BComm graduate from the University of Melbourne. My passion lies in finding creative solutions and encouraging collaboration.
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Clement Cohen
Nice summary and I like the review of RAPID as well in your other post. As you will note from our website we are in the “HPO – High Performance Organization” business. Subsequent to having built and run a publicly quoted multi-national, including our own corporate university.
What strikes me are two three things:
(1) with all of the methods is total isolation of the decision making process from follow-up and execution, which presumably will include more decisions when reality fails to match plan…
(2)the lack of clear definition and separation of “problem solving as a team” from “making decisions” as a team. At least one of the methods attempts to do mix both at once, IMHO, a big no-no…
(3) great decision making is heavily influenced by corporate structure and corporate culture. IMHO a number of these methods, particularly RAPID from Bain & Co., appear like elegant solutions for ineffective corporate structures (e.g. Matrix) and/or dysfunctional corporate cultures. They also are however, burdensome and difficult to implement. My approach would be to fix the underlying problem instead…. the corporate structure & culture first, no?
Published on , 7:43 pm