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- Wiley
More About This Title The Intelligent Company - Five steps to Successwith Evidence-Based Management
English
Today's most successful companies are Intelligent Companies that use the best available data to inform their decision making. This is called Evidence-Based Management and is one of the fastest growing business trends of our times. Intelligent Companies bring together tools such as Business Intelligence, Analytics, Key Performance Indicators, Balanced Scorecards, Management Reporting and Strategic Decision Making to generate real competitive advantages.
As information and data volumes grow at explosive rates, the challenges of managing this information is turning into a losing battle for most companies and they end up drowning in data while thirsting for insights. This is made worse by the severe skills shortage in analytics, data presentation and communication.
This latest book by best-selling management expert Bernard Marr will equip you with a set of powerful skills that are vital for successful managers now and in the future. Increase your market value by gaining essential skills that are in high demand but in short supply.
Loaded with practical step-by-step guidance, simple tools and real life examples of how leading organizations such as Google, CocaCola, Capital One, Saatchi & Saatchi, Tesco, Yahoo, as well as Government Departments and Agencies have put the principles into practice.
The five steps to more intelligent decision making are:
- Step 1: More intelligent strategies – by identifying strategic priorities and agreeing your real information needs
- Step 2: More intelligent data – by creating relevant and meaningful performance indicators and qualitative management information linked back to your strategic information needs
- Step 3: More intelligent insights – by using good evidence to test and prove ideas and by analysing the data to gain robust and reliable insights
- Step 4: More intelligent communication – by creating informative and engaging management information packs and dashboards that provide the essential information, packaged in an easy-to-read way
- Step 5: More intelligent decision making – by fostering an evidence-based culture of turning information into actionable knowledge and real decisions
"Bernard Marr did it again! This outstanding and practical book will help your company become more intelligent and more successful. Marr takes the fields of business-intelligence, analytics and scorecarding to bring them together into a powerful and easy-to-follow 5-step framework. The Intelligent Company is THE must-read book of our times."Bruno Aziza, Co-author of best-selling book Drive Business Performance and Worldwide Strategy Lead, Microsoft Business Intelligence
"Book after book Bernard Marr is redefining the fundamentals of good business management. The Intelligent Company is a must read in these changing times and a reference you will want on your desk every day!"Gabriel Bellenger, Accenture Strategy
English
Bernard Marr is a leading global authority and best-selling author on organisational performance and business success.
In this capacity he regularly advises leading companies, organisations and governments across the globe, which makes him an acclaimed and award-winning keynote speaker, researcher, consultant and teacher. Bernard Marr is acknowledged by the CEO Journal as one of today's leading business brains.
Bernard Marr has written a number of seminal books and over 200 high profile reports and articles on managing and improving organisational performance. This includes the best-sellers Managing and Delivering Performance and Strategic Performance Management, a number of Gartner Reports, and the world's largest research studies on the topic.
Today, Bernard Marr heads up the famed Advanced Performance Institute, where he can be contacted at www.ap-institute.com.
English
ABOUT THE AUTHOR xi
FOREWORD xv
ACKNOWLEDGEMENTS xix
1 THE DATA–KNOWLEDGE CRUNCH 1
Introduction 1
The data and information explosion 2
The failure to turn data into mission-critical insights 3
Investment in business intelligence 6
Evidence-based management 9
Conclusions 12
2 THE EVIDENCE-BASED MANAGEMENT MODEL 13
Introduction 13
Evidence-based medicine 15
The scientific method 15
The EbM model explained 16
Conclusions 20
3 IDENTIFYING OBJECTIVES AND INFORMATION NEEDS 21
Introduction 21
How a police ‘SWAT’ team uses EbM 22
Step 1 – sub-step one: what do we need to know? 25
Strategic performance management frameworks 30
A strategy map as a hypothesis 50
Who needs to know what, when and why? 52
What are the most important unanswered questions? 54
Ten steps for creating good KPQs and KAQs 58
Conclusions 63
4 COLLECTING THE RIGHT DATA 65
Introduction 65
Key performance indicators and building evidence 67
Collecting the right data 69
What is evidence and what is data? 70
Data collection methodologies 71
Quantitative data collection methods 72
Qualitative data techniques 78
Using both quantitative and qualitative data 83
Making data collection part of the job 84
Engaging people in data collection 87
Assigning meaning to data 89
Reliability and validity 93
Planning the data collection process 94
The role of IT infrastructure and applications in the collection of data 96
Conclusions 100
5 ANALYSE THE DATA AND GAIN INSIGHTS 101
Introduction 101
Data analysis 104
Budgeting and planning 112
Reporting and consolidation 113
Value-driver modelling 113
Experimentation 117
Role of IT infrastructure and applications in analysing data 129
Conclusions 132
6 PRESENT AND COMMUNICATE THE INFORMATION 135
Introduction 135
How to get the attention of decision makers 137
Publishing analogies 138
Guidance for presenting information 144
The role of IT infrastructure and applications in presenting information 151
Conclusions 160
7 TURNING INFORMATION INTO ACTIONABLE KNOWLEDGE 163
Introduction 163
Ensure that the available evidence is used to make the best decisions 167
Turning knowledge into action 172
The knowing doing gap 173
Conclusions 188
8 CONCLUSION AND ACTION CHECKLIST 189
Introduction 189
Action checklist 193
Final words 207
REFERENCES 209
INDEX 213
