Couldn’t find what you were looking for? Try a new search.
How To Define A Data Use Case – With Handy Template
A good data strategy will help you clarify your company’s strategic objectives and determine how you can use data to achieve those goals. The data uses that you identify in this process are known as your use cases. In other words, these use cases are your key data projects or priorities for the year ahead. When I work with companies to develop their data strategy, we usually identify between three and five data use cases – any more than that and your data strategy risks becoming cluttered and unrealistic. Data use cases will be different for every company, and will be driven by your overarching business strategy. However, some examples include: Understanding and improving employee engagement Delivering [...]
Strategy Development: The 6 Key Strategies Every Company Needs
Big or small, every company needs a strategy. And not just one, actually. I believe every company need strategic goals in six key areas of their business if they want to succeed and grow. What’s interesting to me is that it doesn’t seem to matter whether you’re a solo business owner or a Fortune 500 company, these same six key areas apply. Neglect any one of them and your business becomes stagnant or unbalanced and risks failure. Nurture all six, and success is much more likely. 1. Customers Perhaps the most important strategy will revolve around your customers. This should [...]
The 3 Biggest Mistakes Companies Make When Mapping Their Strategy
One of the most powerful management tool available today is a plan-on-a-page or strategy map – that provides a visual representation of an organisation’s strategy on a single page. These one-page tools describe how value is created by company or government organisation. Those that get the map right and are able to identify the most critical strategic goals for their organisation can go on to select the right key performance indicators (KPIs) as well as supporting strategic initiatives and action plans. Get the map wrong and everything else will be wrong, thus wasting much time, energy and resources. Sadly, my [...]
What Is Blue Ocean Strategy And How Can You Create One?
When management experts Chan Kim and Renée Mauborgne offered a new perspective on how to stand out above the competition and do business in an “uncontested market space” in their book Blue Ocean Strategy, Expanded Edition: How to Create Uncontested Market Space and Make the Competition Irrelevant, it seemed too good to be true. Most businesses operate in what the authors termed “Red Oceans,” a place of vicious competition (think bloody, shark-infested waters). What could happen if businesses sought to find a relatively competition-free place to conduct business, AKA a Blue Ocean? Let’s find out. What is Blue Ocean Strategy? [...]
Comparing Data Visualization Software: Here Are The 7 Best Tools
Synopsis: Being able to visualize and communicate the ever-increasing amount of data we now have access to has become a vital skill. But what are the best data visualization tools out there? Here we look at the top seven. Visualization is an essential element of any Big Data and analytics strategy. The most up-to-date, real time information and advanced analytics solutions are an expensive waste of money if you can’t communicate the results clearly and effectively to the people whose job it is to put them to work. Data visualization tools are constantly evolving to the point where they are [...]
How To Develop Your Artificial Intelligence (AI) Strategy – With Handy Template
In a previous article I explored AI use cases – or, how your business can use AI to deliver strategic objectives. Once you’ve worked out how you want to use AI, you need to turn that into a more formal AI strategy. Download PDF In this article, I’ll help you explore your AI use cases and identify their cross-cutting themes, issues, goals and requirements, using a handy AI Strategy Template. You might like to have the accompanying AI Strategy Template open while you read this article, as I’ll refer to it throughout. The template (see above) is free to download [...]
What Is The Execution Premium Process? A Summary Of The 6 Steps To Better Manage Your Strategy
It’s shocking that research after research finds that between 70-90% of strategies fail miserably or only deliver very marginal results. Fortune Magazine famously reported that just 1 out of 10 strategies were executed successfully. Research has also consistently found that failure is rarely the result of poor strategy formulation, but rather is due to an inability to execute. These statistics might not be surprising, given that other research efforts find that senior management spends no more than 5% of their time managing strategy - An equally appalling finding, as managing strategy is essentially what the leadership team is paid to [...]
How Artificial Intelligence Can Power Climate Change Strategy
Slowing down climate change is an urgent matter. If we fail, our world will face a more extensive crisis than we experienced because of the global COVID-19 pandemic. When artificial intelligence (AI) technology helps solve a problem, problem-solving can be done quicker, and the solution is often one that would have taken longer for humans to discover. Could artificial intelligence power climate change strategy? Yes, and it’s already doing so. AI Can Accelerate Our Response to Climate Change There’s no time to waste: atmospheric CO2 levels are the highest ever (even with significant drops from the stay-at-home orders for COVID-19), average [...]
How Do You Create Great Data Visualisations: 7 Simple Steps Anyone Can Follow
Insights from data and analysis need to be packaged in meaningful formats in order to be communicated effectively so that decision makers can understand them and act accordingly. A key part of this is visualising the data. Here are 7 steps that will ensure your data visualisations are effective: Identify your target audience. Whether you are creating a traditional report or a modern infographic, ask yourself who is going to see it and what do they already know about the issues being discussed? What do they need and want to know? And, what will they do with the information? Customise [...]
How To Develop An Artificial Intelligence Strategy: 9 Things Every Business Must Include
Artificial intelligence (AI) has the potential to transform every business – in the same way (and possibly more) as the internet has utterly transformed the way we do business. From smarter products and services to better business decisions and optimised (or even automated) business processes, AI has the power to change almost everything. Those businesses that don’t capitalise on the transformative power of AI risk being left behind. That’s why you need an AI strategy for your business. One question people often ask me is, ‘Do I still need a separate AI strategy if I’ve already got a data strategy’? [...]