Adopting a lean strategy can seem intimidating, but you can easily create a successful company using lean methodology. Initially developed by Eric Ries, the three-step lean method for startups uses iterative product testing plus integrates early adopter feedback to choose product features and functions with the goal of reaching a larger market. Using lean tools can help eliminate constraints, roadblocks, and waste that may impede progress.
Your organization can benefit from analytics regardless of business type. You can increase the benefits by making your analytics information easily accessible and understandable to all. You don’t need to teach your entire organization statistics and statistical analysis for the business to benefit from analytics. You can set up the back-end of your data ecosystem to do all the hard work and present the information on an easy-to-read, simple-to-understand dashboard that presents the information in digestible chunks.
Starr & Associates recognizes the value of doing business in the cloud, as 90 percent of companies have, a 451 Research study states. Using a multi-cloud approach, these companies moved to remote computing, networking, and data storage.
Many large corporations, including McDonald’s, Under Armour, CVS Health, Walgreens and United Natural Foods, have been adding a new position to their executive ranks. This position is being called the Chief Customer Officer. The tasks for this professional include ensuring that the company is in touch with their consumer, ensuring the consumer’s needs are being met by the company, and helping the company deliver better customer experiences and relationships. Customer-centric business transformation is a must in the business world at this time. Here are a few of the reasons why.
Data storytelling is an increasingly important competency within Data Science. Data Storytelling not only makes insights engaging but also makes them significant for the audience. Good data storytelling has become even more important today as evidenced by the insights conveyed about COVID-19. The pandemic has created the perhaps the most populous quest for data and statistics in our lifetime. It has highlighted the importance of the ability to convey insights from data in a way that is meaningful to people’s everyday lives. That same principle can be applied to business decision-making and the need for insights in support of it.
Transformation to a company’s products or services is usually driven based on consumer demands, technological innovations, or both. Upon recognizing the need for transforming your organization, the process in which you embark upon these changes will determine the success of your transformation. It takes careful restructuring to come up with sustainable solutions.
Creating a business that succeeds involves fostering a decision-making process that enables the organization to make solution-centric decisions. It’s a move away from a hierarchal process to one that places decision-making in the trenches of the day-to-day work, creates an organizational structure that eliminates information silos and shares decision-making with the most experienced, informed employees. How do you do this?
As organizations grow to critical mass it is often hard to derive and sustain the types of changes that are necessary to remain competitive. The larger and more structured the organization, typically the less entrepreneurial, nimble and adaptable they are to necessary change. Inability to design, develop and/or launch new initiatives; resistance to new technology, ideas or innovations regardless of the benefit; and radical resistance to reforming past practices no matter how obsolete are clear signs that your organization may be in this state.
Starr & Associates offers enterprise-level data mining, analytics and intelligence tools. We focus on how businesses can implement strategies that reduce costs while still helping you improve efficiency. Industries served include healthcare, energy, manufacturing, telecommunications, financial services, technology and the public sector.
Everyone talks about big data, but volumes of data that do not provide insights do not help your business. You need to blend your source data creating meaningful, usable information, which can be visualized into actionable insights that provide value to your business.