Menu
Menu
How to turn decision making into a competitive advantage: PwC

How to turn decision making into a competitive advantage: PwC

Lists four approaches for retailers on using data to make 'speedy and sophisticated big' decisions.

Read more: Data science in the forest

Critical calibration

The PwC report concludes that during times of rapid change, organisations that can calibrate themselves most accurately to their competition, and then invest accordingly, will do well.

PwC lists the four approaches for orgaisations to turn decision making into a competitive advantage:

Map decisions to shareholder value by pinpointing decisions that have the biggest impact on your future. “Understand how data analytics can give you a competitive edge.”

Link the strategic alternatives to the business impacts by simulating how mega trends, industry trends and your strategic alternatives affect your business and operating model.

Apply a value and results lens by quantifying the expected improvement in metrics associated with improving decision making.

Adopt a structured test and learn approachby specifying changes to the organisation, process, technology and culture that are needed to improve decision making. “Pilot first, learn quickly and then scale.”

Send news tips and comments to divina_paredes@idg.co.nz

Follow Divina Paredes on Twitter: @divinap

Read more: Transforming the workplace

Follow CIO New Zealand on Twitter:@cio_nz

Sign up for CIO newsletters for regular updates on CIO news, views and events.

Join us on Facebook.

Join the CIO New Zealand group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags retailbusiness intelligencebig dataPwCbig data cloud

More about Facebook

Show Comments