March 16, 2010
What's your definition of "Analytics" (Part 2)
In my last post, I asked people to explain in simple terms the word "Analytics" and provide examples to make the definition come to life.
I knew that the discussion would be topical but I didn't anticipate that the responses would be so numerous! (if you'd like to know in less than 3 mins what others say about analytics, watch the video recap @ http://tinyurl.com/analytics-videoblog - others, read on!)
What did we learn so far?
* Analytics are often associated with prediction: Many associated the term "Analytics" with the idea of prediction - meaning that, while metrics might focus on the past, "Analytics" are best used to predict the future.
* Analytics are somewhat different from KPIs: While the difference between KPIs and Analytics wasn't highlighted much, many expected "Analytics" to be visual and provide a story behind the actual numbers. While "Analytics" might be the results of sophisticated statistical models and combine the wisdom of multiple measurement points, they should display information to allow anyone to understand trends and work with them quickly.
* Analytics are primarily created in the business: Some argued that while BI requirements were often assigned to the CIO's office, "Analytics" requirements should be assigned to functional heads (CFO, CMOs..etc) because they typically need to be customized based on the appropriate business questions.
Finally, some argued that "Analytics" are unique to a company. Many talked about the competitive advantage that analytics can represent for an organization.
Which leads me to another question: if analytics are so unique, and if they result in the combination of technology and the knowledge that only your employees have, can they ever be packaged?
What do you think? The discussion continues @ http://tinyurl.com/analytics-discussion , now with views from IDC, Forrester and TDWI experts.
Join in!
Bruno Aziza
Co-author, Drive Business Performance
Follow @ http://twitter.com/brunoaziza
Join on Facebook @ http://tinyurl.com/ykcwkap
More on my book @ http://tinyurl.com/ylpo6hj
Posted by Bruno Aziza at 12:15 AM | Comments (0)
February 21, 2010
What's an "Analytic"?
The term "analytic" has been used quite a bit over the years in blogs, books and other forums.
The term is becoming so used lately that business leaders are starting to feel confused by what it means. Some ask: is an "analytic" a new term for "business intelligence", is it the same as a "key performance indicator (kpi)"?
Of course, analytics have been in existence for many years and books such as "competing on analytics" have participated in raising visibility to their importance. However - the understanding of what they are and what they can do, might have been reserved to a small crowd of people inside the organization.
If you are an IT leader, you want to avoid dragging people into esoteric debates. You want to clarify the definition of analytics, their key attributes so you can focus your team and colleagues on what really matters: driving better business performance.
On the back of events such as last week's Predictive Analytics World or "PAW" - what would you say your definition of the term an "analytic" is? How would you describe it with simple terms for folks who haven't been in the space for years? Do you have examples that you use and have worked for you?
Come discuss @ http://tinyurl.com/o89vep
Best,
Bruno Aziza
Co-author, Drive Business Performance
Follow @ http://twitter.com/brunoaziza
Join on Facebook @ http://tinyurl.com/ykcwkap
More on my book @ http://tinyurl.com/ylpo6hj
Posted by Bruno Aziza at 11:30 PM | Comments (0)
February 2, 2010
How Will We Make Decisions in the Future?
A little less than a month ago, I asked people via multiple networks and forums what they thought business intelligence would look like in 2020.
I received some great predictions and I'm summarizing them for you in a short video @ http://tinyurl.com/ykvugkr
Some folks were cautious in their forecasts. One respondent told me that maybe – just maybe – if by 2020 we have solved quality and integration issues, and if continue to improve usability and make the use of mash-ups more efficient, we'll finally get to the point where non-technical users finally benefit from BI without involvement lot of help from IT.
Others predicted that data sources won’t even matter anymore. Even search engines might be passé. They argued that people will be able to ask questions to a computer that is smart enough to ask for clarification before answering the question. This ties well with a prediction I heard – and that is supported by our own work on natural user interfaces – that verbal communication with a computer could soon be common.
Finally, two respondents said that spreadsheets might be less important in the future and that people will favor technology that pushes answers to them, rather than requiring people to look for the right information.
These predictions can help all us picture the future for business intelligence, and perhaps align our actions to make it happen.
My own bets for business intelligence in 2020 include the notion that collaboration and business intelligence will be linked more closely so that it becomes more obvious that decisions are based on hard data as well as the knowledge and opinions from co-workers, partners and friends.
I also agree that data sources won't matter to end-users. I actually don't know that they should matter to people today. I hope that technology will guide people’s decisions more efficiently because it can filter out irrelevant information and focus on information that improves insights and actions.
Last but not least: Culture will change. A culture of performance is the one factor that allows organization to gain continuous success across multiple generations of people and technology. I see day after day the rewards and competitive advantage organizations gain by moving from a gut-feel type of management style to a more rigorous, data-driven decision-making system.
If you have any feedback or thoughts, please feel free to email me directly at bruno@brunoaziza.com
Posted by Bruno Aziza at 6:00 AM | Comments (1)
January 24, 2010
Does social media make us more honest?
This year, the World Economic Forum explores the influence of social networks at the start of the Annual Meeting 2010 in Davos. The discussion is moderated by Loïc Le Meur, Founder of Seesmic and includes, among others Gina Bianchini, CEO, Ning, George Colony, CEO, Forrester Research, Reid Hoffman, Founder, LinkedIn, Owen Van Natta CEO, MySpace.com and Evan Williams, CEO, Twitter.
You can submit questions to Davos as videos, so...if you don't like to read, watch the 3 min video version of my question at http://tinyurl.com/ydmu9e8
==> My question is: "Do you think that social media helps people and companies become more honest?"
I believe that social media will help and based my argument on the below observations. However, I would like to hear what the panel has to say.
1)Transparency: social media enables information to be shared faster than ever before. Of course, transparency can be scary for some, especially if your "friends" publish your information or photos without your permission. However, with transparency comes accountability - if you state on your Facebook page that 'you never drink' and your friends put up photos of you bar-hopping...you can run into some credibility issues. This principle is true for individuals and companies. It presents particular challenges for organizations who mislead customers as their modus operandi, and that's a good thing.
2) More intelligent use of social media: the ability to find information across multiple social networks simply by searching allows many of us to figure "what a person or a company is about". This technique is well used by recruiters who search the web and look up people's profile prior to bringing them in. Consumers are now more sophisticated in their use of social media - particularly prior to making a buying decision. While their perception of a product might have been shaped by an organization's marketing efforts in the past, they now can solicit their networks for reviews. Given the importance we put on the opinions of our network, the little information a few trusted friends can provide will outweigh any marketing dollar the selling company can invest in trying to change our perception.
3) Consumers at the center of companies 'brands: now that everything is in the open and that consumers have a channel to broadly express their opinions, companies have to be more honest with their customers. Let me provide an example. I had a layover in Paris on my flight from Seattle to Copenhagen. My flight to Copenhagen was delayed so I sat down to check email and my FB page. I immediately let my FB network know that I was delayed in Paris. Within minutes of sitting down, I got an email from the airline company apologizing for the delay….wow...when was last time you got this level of care from an airline? The email isn't much but it indicates that the airline understands that my dissatisfaction could impact others. Given the airline doesn't know me and doesn't want to take the risk that I might influence a large network of their clients - they want to proactively reach out to me.
There are, of course, positive ways by which social media makes people want to be more honest - but I thought I would highlight the ones that I believe offer the most pressure.
What do you believe? Join the conversation @ http://tinyurl.com/o89vep
Best,
Bruno Aziza
Co-author, Drive Business Performance
Follow @ http://twitter.com/brunoaziza
Join on Facebook @ http://tinyurl.com/ykcwkap
Posted by Bruno Aziza at 1:15 PM | Comments (0)
January 18, 2010
Culture of Performance on Radio this Wednesday!
If developing a culture of performance is one of your objectives for 2010, you are in luck! We are making it increasingly easy for you, your team and colleagues to access the content you need to achieve your goal.
This Wednesday, we will be launching a Radio show, focused on the culture of performance. "Untapped Insights" features research from our book and provides guidance in plain English.
Our first show includes Bob O’Brien, Senior Director, Business Analytics Media & Entertainment Group at Microsoft.
- Check out the video preview of the interview @ http://www.youtube.com/watch?v=LxYSOkisLMI
- To attend live, click @ https://www1.gotomeeting.com/register/471994544
- Subscribe to it by clicking @ Ws.pushbi.com/untapped_insights.xml
(First 200 live attendees get a free copy of Drive Business Performance).
The show will be interactive and offers a forum for debate. If you have questions, prior, during and after the show, email me @ bruno@brunoaziza.com.
Finally, don't forget to follow on Twitter @ twitter.combrunoaziza to stay in touch!
Bruno Aziza
Co-author, Drive Business Performance
Twitter @ http://twitter.com/brunoaziza
Facebook @ http://tinyurl.com/ykcwkap
Linkedin @ http://tinyurl.com/o89vep
Site @ http://www.brunoaziza.com
Posted by Bruno Aziza at 6:15 AM | Comments (0)
January 10, 2010
Lego Group's Culture of Performance (NRF preview)
The recent economic crisis has reminded business leaders of "the basics" of business performance; developing a great strategy is not enough. All participants need to be able to execute the strategy and the organization needs to empower them to make the right decisions, better and faster. Doing so requires processes and systems that can adjust to market conditions. But more importantly, it requires that your organization's culture is geared for performance.
In my upcoming session at NRF this year, I will be joined by Henrik Amsinck, Lego Group Chief Information Officer and VP. I'm honored to share the stage with Henrik. Not only is Lego's story a great one to have the opportunity to tell, but Henrik embodies the spirit that drives the performance of this amazing company.
Every employee I have talked to leading up to this presentation shares the same passion for Lego, their products and their customers. Even talking on the phone, it's almost as if I could 'hear' the sparkle in their eye when they talked about Lego. Indeed, Lego has a strong culture of performance and it shows. In the first half of 2009 the company reported 20% results and outpaced the competition. Read a great coverage of Lego's story published by the Daily Telegraph this past December here.
However, as you will find out in our session, Lego didn't always have the stellar results I'm alluding to here. The cultural changes they have gone through allowed them to come back strong and equip themselves to gain market share when others were struggling. So - how did they do it? And how can your organization do the same?
While we will share the details at our session next week, I want to give you a taste of what you should expect. There are three key aspects of Lego's turnaround we can all learn from:
1) Commitment from the top: as we describe in Drive Business Performance, culture changes start at the top. A new leader often joins the organization with intentions to define new standards of performance; an approach that provides employees with the tools to be better informed and the expectations of better accountability. In our session on Tuesday, we will tell you how Lego helped its employees to expect and respect data-driven decision making.
2) Focus on the basics: too many organizations build processes, reports and dashboards without asking basic questions on the validity and general agreement employees have of the metrics that drive the business. On Tuesday, we will talk about how Lego focuses on a "language of performance" and how they determine what should be a global standard versus what should be uniquely defined for a locale.
3) Compete into the future: few organizations have implemented the type of information management system Lego has across structured, unstructured and social data. A core value of Lego's mission is connection with their customers. However, many of their customers are boys age 6-10. How do you think they connect with them and request their feedback?
The first 200 attendees will receive a complimentary, signed copy of my book, Drive Business Performance. Join us on Tuesday, 01/12/2010 from 1:45PM - 2:30PM in Room EXPO Hall, 3D04.
This session will be interactive and we will ask you to participate throughout. In fact, if you'd like to send out questions, join the discussion on the Culture of Performance LinkedIn group @ http://tinyurl.com/o89vep
Looking forward to seeing you there!
Bruno Aziza
Co-author, Drive Business Performance
Follow @ http://twitter.com/brunoaziza
Join on Facebook @ http://tinyurl.com/ykcwkap
My site @ www.brunoaziza.com
References: http://www.telegraph.co.uk/finance/newsbysector/re tailandconsumer/6825911/Lego-play-it-again.html
Posted by Bruno Aziza at 10:30 PM | Comments (0)
January 4, 2010
Business Intelligence 2020?
Happy New Year to all!
By now, you probably have read all the 2010 predictions or even 2009 "best of" analyses!
There are some great ones out there but....I haven't found much on BI 2020 horizon.
So...looking back the last decade, and factoring in the accelerating pace of innovation in the business intelligence field...what do YOU think the biggest innovations or trends will be?
I have some ideas of course, but would rather hear what you have to say (by the way, don't just think technology but think process, people...and culture….).
Join the discussion on the Culture of Performance LinkedIn group @ http://tinyurl.com/o89vep
Bruno Aziza
Co-author, Drive Business Performance
Follow @ http://twitter.com/brunoaziza
Join on Facebook @ http://tinyurl.com/ykcwkap
My site @ www.brunoaziza.com
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By the way, if you are at the National Retail Federation (NRF) Big Show this year, don't miss my session!
This year I have the honor to present with Henrik Amsinck, CIO of Lego group on "Developing A Culture of Performance in Retail".
For more information on the session, go to http://events.nrf.com/annual2010/PUBLIC/SessionDetails.aspx?FromPage=Calendar.aspx&SessionID=1179
Posted by Bruno Aziza at 6:45 AM | Comments (0)
December 13, 2009
Are Toyota and GE going through a cultural crisis?
I recently read Jim Collin's latest book "How the Mighty Fall". The book is an easy, useful and actionable read and I highly recommend it.
Timing was brilliant on Jim Collins' part as many, over the last year, wondered how it was possible that such successful institutions could fail that way...especially after so many books had been published lauding the practices of these giants.
The need for Collins' book became even more obvious this week as two of these "giants of performance" publicly faced scrutiny. This week's Economist's front page shows a picture of a "Banana on wheels" with the title "Toyota slips up". The Globe - one of Canada's top papers - provided coverage of GE's cultural crisis, quoting Immelt's new practices for getting a better pulse on the market.
What's your view on the change in fate of such admired companies? Are there key business performance principles they missed? Which ones do you think they should implement to turn it around?
Join the discussion on the Culture of Performance LinkedIn group @ http://tinyurl.com/o89vep
Best,
Bruno Aziza
Co-author, Drive Business Performance
Follow @ http://twitter.com/brunoaziza
Join on Facebook @ http://tinyurl.com/ykcwkap
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References:
Economist leader's article @ http://www.economist.com/printedition/displayStory.cfm?Story_ID=15065913
Globe's article on GE @ http://www.theglobeandmail.com/report-on-business/jeffrey-immelt-cites-era-of-meanness-greed/article1394949/
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Posted by Bruno Aziza at 5:30 AM | Comments (0)
November 16, 2009
Does your incentive system work?
I recently had the opportunity to talk with executives about the issues they experience with incentives implementation, and what we call in Drive Business Performance, the multiple "currencies" of performance.
We observed that organizations consistently find themselves implementing incentives and disincentives that create, in the short and long term, the exact opposite behaviors their system was originally built for.
For instance, you might have heard of the Israeli childcare which disincentives program (charging parents for late pick up) backfired on them as parents judged that the benefits of later pick-ups outweighed the daycare's fees (this should give 'food-for-thoughts' to the schools in France and the US which are implementing an cash-to-read program for their students...).
Poor incentive practices often stand in the way of companies' ability to execute their strategy - yet, few can find a methodology that works. It seems that there are multiple factors to consider - I'm enumerating a few below. What are your thoughts, have you seen best practices within your organizations or at clients?
1) The purpose of incentives - while this seems obvious, many are reminded that incentives are only a means to an end; the purpose of incentives is the behavior they incent. Has the organization carefully considered the behavior they are trying to incent and the connection between behavior and the incentive?
2) The breadth of incentive systems - as it turns out, employees respond to a much wider panel of incentives than their companies are ready to offer. This is what we call in Drive Business Performance, the multiple "currencies" of performance. A broadening of incentive offers is often effective - from money, to education help, to more vacation, to more time with valued members of the executive team, for instance.
3) The types of employee personality - employees are unique in the way they react to incentives. For instance, two marketing managers, with the same job description, could quite possibly value different incentives. An 'employee type' incentive system could be imagined, by which employees would be proposed a choice of compensation options aligned to the purpose of their jobs and what motivates them most. They could modified their choice every year in case their personal situations changed.
While this 'personalization' of incentives is argued by some as the most difficult to implement, it certainly feel like as untapped potential. Many say that it leads to better employee satisfaction and is a great way for companies to see what works best with the various personality types of employees that compose their organizational culture.
Join the discussion on the Culture of Performance LinkedIn group @ http://tinyurl.com/o89vep
Best,
Bruno Aziza
Follow @ http://twitter.com/brunoaziza
Facebook @ http://tinyurl.com/yhyl58n
Posted by Bruno Aziza at 7:30 AM | Comments (0)
October 28, 2009
Are you the victim of "decisional set-up"?
In a recent Harvard Executive course I took, our decision making class instructor said - "it's not the information you HAVE that clouds your decision making, it's the information you DO NOT have".
What a brilliant way to summarize the problems that many organizations face when making decisions. By this, I don't just mean that they lack the data to support their decision making, I mean, they often forget to ask for the data they don't have.
We've discovered that some of the poorest decisions occur because of "decisional set-up". I'm sure many of the readers of this post don't find themselves victim to this but let me try to describe the process:
1. The team has identified an issue and suspects they know the origins of a problem.
2. They research the answers, but find themselves looking in places that comfort their beliefs (intentionally or not).
3. They present it back to Management.
Sound familiar?
What happens next sets apart best performing teams from the rest. Winning teams deconstruct the premises of the argument, ask to look in areas where others hadn't looked before. They don't restrict their thinking to the data and analysis that's available to them. They work from the problem backwards, disregarding the limits of what's measureable and what isn't.
Some organizations, such as the VHA, as we highlight in Drive Business Performance, go as far as creating new roles and new processes to measure the "un-mesureable".
Have you seen this happen at your organization or else-where? What was it like? How did you handle the problem?
Join the conversation @ http://tinyurl.com/yk7l5u4
Best,
Bruno Aziza
Co-author, Drive Business Performance
Follow @ http://twitter.com/brunoaziza
Join on Facebook @ http://tinyurl.com/ykcwkap
Posted by Bruno Aziza at 7:15 AM | Comments (0)
