by Andrew White | May 23, 2018 | Comments Off on New Toolkit: How to Demonstrate the Link between Data and Business Outcome
One of the most commonly asked questions, and a most intractable problem to solve, is the ability to show, to demonstrate, to explain, the link between a piece of information and the business outcome to which it is related. There is no perfect method for all data and all outcomes – not least because in this new-normal-age of AI solutions, some relationships will not easily be understood by humans. That being said, there is one method that, through hard work and rigor, can demonstrate a causal link between a piece of data, an application, a business process, a change in behavior, a KPI, and a business outcome. That is this toolkit!
This toolkit is not a silver bullet nor a panacea. It actually sits on the shoulders of a body of great research from other analysts, such as this: The Gartner Business Value Model: A Framework for Measuring Business Performance. This toolkit is really just a new expression for what many others have talked about before. It just happens to be now that it is published and visualized as a toolkit you can download and “fill in the blanks”. The toolkit apples solid root-cause analysis to several other topics to create a blank template that you find here.
Enjoy: Toolkit: Use Gartner’s Value Pyramid to Connect Data to Business Value.
And most interesting of all is the implication that the model in this toolkit makes. If you look at some of the graphics, this “value pyramid” helps demonstrate the link between business applications, business processes, decisions, change as well as data and the analytics used. This hints at a “big” idea that suggests (Shh – don’t tell everyone) that data and analytics is just the latest in a long line of initiatives that seeks to get more value from information and technology: Data and analytics is really about business outcome improvement, not about data and analytics!
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