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Data Analysis Management Basics

Insightful presentation for people starting to learn the basics of Data Analysis or Handy for people already practicing Analytics.

Uploaded by

Vikas Singh
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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45 views9 pages

Data Analysis Management Basics

Insightful presentation for people starting to learn the basics of Data Analysis or Handy for people already practicing Analytics.

Uploaded by

Vikas Singh
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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WHY

Data Analysis for


Management!

Scientific Management
Ancient managers
Management as Art
F.W. Taylor (1911)

Stages of economic
development
Pre-Industrial
Industrial
Post-Industrial
Information manager

Data-driven Management
An approach to business governance that
values decisions that can be backed up
with verifiable data

Data and algorithms have a tendency


tooutperform human intuitionin awide
variety of circumstances.
--- McAfee
4

Data-driven Management ..
You cant manage what you dont measure.
--W. Edwards Deming and Peter Drucker

Explains why the recent explosion of digital data is so


important.
Because of big data, managers can measure, and hence
know, radically more about their businesses, and directly
translate that knowledge into improved decision making
and performance.
5

Applications
Operations

Finance

Quality control

Stock price

Preventive measures

Forecasting

e.g. SPC
Simulation analysis

Marketing
New product/market

HR/OB
Social experiments

Consumer behaviour
6

Data analysis as Competitive


Advantage
Online Business: Online businesses have
always known that they were competing on how
well they understood their data.

Better predictions and smarter decisions.


Can target more-effective interventions, and can
do so in areas that so far have been dominated
by gut and intuition rather than by data and rigor.
7

Hazards
GIGO (Garbage-In-Garbage-Out)
Walmart (2001)

References
Big Data: The Management Revolution by Andrew
McAfee & Erik Brynjolfsson, HBR
An Introduction to Data-Driven Decisions for
Managers Who Dont Like Math by Walter Frick , HBR
Competitive manufacturing management by John M.
Nicholas, TMH
Service Management:Operations, Strategy,
Information Technology , James A. Fitzsimmons,Mona J.
Fitzsimmons

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