What to plan and when to make decisions with data

Fletcher, Gordon, Griffiths, Marie and Dron, Richard ORCID: https://orcid.org/0000-0002-1464-4232 (2020) What to plan and when to make decisions with data. In: Strategic Digital Transformation: A Results-Driven Approach. Business and Digital Transformation . Routledge, London, pp. 132-139. ISBN 9780367031060 (hardback); 9780367031077 (paperback); 9780429020469 (ebook)

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Abstract

Existing organisations are often burdened with the legacy of out-of-date business models – an aspect of their existing complexity that prohibits obtaining the maximum benefit from being data-driven. Transformation is a continuous process of refinement and self-reflection as organisations navigate the Volatile, Uncertain, Complex and Ambiguous world. Measurement can only produce data. Having immediate access to the ‘right’ combinations of data is the key to becoming a data-driven organisation. What is done to turn that data into information and insight is the key to becoming a people-focused organisation. While some decisions can be driven directly by the ‘right’ data inputs, other decision-making processes may require ‘gut reaction’ or emotion. A business model describes how an organisation creates and delivers its value proposition to consumers and customers. A business model also explains the mechanisms by which the organisation itself extracts value from the delivery of that value proposition.