The Entrepreneurial PM
Project Management evolved beyond the traditional model...
transformed to embrace change, foster innovation, and deliver optimal business value.
Research suggests that a data-driven approach to decision making offers competitive advantages.
However, organizations are faced with a challenge when implementing big data insights because the data
shows correlation, not causation (i.e., the data reveals the what, but not the why). This can immobilize
cautious leaders who seek a thorough understanding of the landscape before proceeding.
Thus, leaders must adapt their approach to act first and then work to understand why later.
We have more than enough data. What we lack is the ability to analyze it.
It is easy to find correlations, but correlation is not causation.
This creates a demand for statisticians to reduce the data so leaders can understand where to place their focus.
Has the amount of information being collected exceeded it’s usefulness?
Or do we just need to figure out how to benefit from it? The presentation explores how companies can profit from Big Data.
Those who think so misunderstand what VOC is and how and when to use it. This article examines VOC’s role in Six Sigma and product innovation.
Six Sigma is a rigorous, data-driven approach to decision making. Some believe Six Sigma and innovation
are incompatible because meticulous process stifles creative thinking. This article explains how Six Sigma
compliments innovation, and asserts that combining the two can drive the best results. It reveals the
Six Sigma tools that can be used to promote original thinking and team brainstorming to deliver quality without sacrificing innovation.
Tom Davenport is the President’s Distinguished Professor of IT and Management at Babson College,
a research fellow at the MIT Center for Digital Business, and co-founder of the International Institute for Analytics.
This is part 1 of 2 articles where Tom explains how Big Data drives innovation.
In part 2, Tom discusses how organizations can move to the next level of Big Data.
Is Big Data the next frontier for innovation?
This looks at how Nordstrom is using Big Data.
Patti Gilchrist is a Sr. Technical Manager with 25 years experience implementing strategic enterprise initiatives.
Patti has a reputation for effectively translating business problems into innovative solutions and creating strategic roadmaps to achieve business goals.