Data Assisted Decision Making and the Enterprise Bard

Filed Under (Business) by Rajesh Kumar on 07-11-2011

Thus goes the story. While getting ready for office in the morning, an enterprise bard had two watches in his house to choose from. The first watch was with drained out batteries that had stopped at 3.37 several months back, and the second one was five minutes slower than the standard local time. Since this enterprise bard never took a decision without analyzing the data, he quickly put data in a table before setting about for the zero error decision making he always professed in his organization.  Being the mathematical genius he was, he ‘backthought’ 30 days data for the two watches.

Slide1

 

The above graph clearly established which watch was superior to the other. Watch 1, that was not moving due to drained out batteries was showing correct time twice a day. Watch 2 on the other hand was slower by 5 minutes all days the entire month and therefore did not show correct time even once in a day.

However, he wanted to be sure from all perspectives and with further analysis, he got more decision support insights.

slide 2

 

This was the eureka moment all data driven managers get. Watch 1, not just showed correct time 60 times a day, its average mean error was zero. However, the Watch 2, showed incorrect time all through and had an average mean error of 5 minutes. It did not require analysis any further. Clincher, the corporate bard thought. He tightened his tie and wore Watch 1 to office.

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    About Rajesh Kumar. Rajesh is based in Chennai, where he works for Defiance Technologies in Marketing. The views on this blog are his own. Rajesh Kumar