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A growing number of organizations are moving toward having more pervasive Business Intelligence (BI) by turning to evidence-based decision making supported by a range of BI and analytics technology and processes that enable decision makers to have the best possible intelligence about customers, finances, operations, suppliers, and the market.
Indeed, even organizations where top management keeps their eyes glued to KPI-driven dashboards have trouble agreeing on what their Top Ten Most Important Customer/Client 80/20 analytics should be. That’s not good because Big Data promises to redefine the fundamentals of the 80/20 rule. From Data to Action An HBR Insight Center.
In the past few weeks, three corporate innovation clients have moved to — or had their roles expanded to include — their company’s training function. As one remarked, perhaps ruefully, “Now I’ve got to get the people who actually do the work to innovate.”
As machine learning and AI algorithmic innovation transform analytics, I’m betting that next-generation algorithms will supercharge Pareto’s empirically provocative paradigm. For them, KPI stands for “key Pareto information,” not just “key performance indicator.” Everybody won.
The bad news: Petabytes of new data and algorithmic innovation assure that “autonomy creep” will relentlessly challenge human oversight from within. In reality, “handoffs” and transitions prove to be significant operational problems. These distinct approaches enjoy demonstrable real-world success.
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