Searching for an Effective Business Strategy?
In a recent article published in the Harvard Business Review, authors John Ladley and Thomas C. Redman write while many success stories confirm data can add enormous value, most organizations still struggle to build data into their business strategies and, conversely, to align their data efforts to the needs of the business.
How do you know if your strategy is adding value to your business?
When data is properly integrated into a business strategy, the authors assert data can accelerate many business strategies by improving the processes and empowering the people needed to execute them.
To do this, you will need to focus on looking at data and strategy through the lens of six value modes.
What are they?
- Improved processes
- Improved competitive position
- New and improved products
- Informationalization (building data into products)
- Improved human capabilities
- Improved risk management.
How do you cross reference or connect these six value modes to your project strategy?
Using the Visible Advantage Project Portal, you are able to "publish" your project data and see the relationships between each value mode and your strategy.
, our Starter Edition is free - no download or installation is necessary. Save time and money using our industry project templates and see how easy it is to setup your next project by reading here.