Understanding the power of business analytics – its power to inform precise decision-making – is central to effecting durable transformations of underperforming businesses.
The process requires identifying and dedicating a resource – someone with high analytical horsepower – with a clear mission; methodical, iterative exploration of granular company data. His or her charge is not simply to review financial statements, as that is simply an historical summary of business activities. Rather, the focus is on the shop floor, in daily production meetings, on sales calls – ensuring that the entire Leadership Team fully understands the business from top to bottom. The data produced informs the right calls, leading to sustained value creation.