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The KPI Institute has officially released its latest research study during the Performance Improvement and KPIs Forum, hosted in Kuala Lumpur, Malaysia, this September.
In Part I and Part II of this article, we emphasized the need to base decisions on data, as this leads to improved results, and we discussed about the decision-making process and the techniques we can use to ensure relevant decisions are made.
In Part I of this article, we emphasized the need to base decisions on data, as this leads to improved results. In what follows next, we will discuss about the steps that need to be taken in the decision-making process and the particularities of making decisions in specific scenarios.
Making decisions is not an easy job, irrespective of the context where we have to make decisions. A woman’s decision to buy a certain pair of shoes may take as long as it takes a manager to decide upon a major organizational problem. The difference, however, lies in the data behind the decision. To choose the perfect pair of shoes you don’t need any data; it’s a matter of what you like more. In the other scenario, it’s a must to base the decision on data. Otherwise, you may follow a wrong direction.
The Master program in “Managing business growth through System Dynamics and Accounting Models – A strategic control perspective (2014-2015)”, offered by The University of Palermo – System Dynamics Group (Italy) is now available!
The application deadline is January 23rd, 2015. The administrative fee for admission to the selection procedure is € 50.
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