I read an article two weeks ago reporting on the challenges faced by a CEO of a big box retailer. At the annual analyst meeting, the CEO identified some challenges that contributed to flat same store sales for the last six quarters. Issues contributing to lackluster growth were:
Changes in shopper behavior resulting from online research and shopping
Shoppers’ desire to shop at smaller stores.
The solution he offered to analysts was to speed up checkout lines. While this is a worthy tactic, continue reading…
Key performance building blocks for any business are good financial management, logistics, efficient manufacturing, a healthy corporate culture, marketing and inventory management. The fundamentals for each of these disciplines are fairly consistent over time and change little. However, when it comes to marketing and identifying customers, positioning against competitors, dealing with economic issues, etc., continue reading…
Today successfully running a business is a difficult task. Many issues impacting performance are outside the control of a C-Level manager’s influence. Nonetheless these issues impact how a business will perform. The lagging economy, political strife around the globe, Washington politicians, the constant media reporting from 24-hour cable and Internet news sources are all at heightened levels of influence on skittish consumers. A bump in any of these areas can disrupt spending behaviors causing continue reading…
Not all things worth doing are worth doing well. For many this is a heresy that violates the old maxim, “if it is worth doing it is worth doing well.” However, in today’s digitally disrupted world the pace of change is so fast that not all decisions can be given the amount of time to do them well.
The real challenge is not to avoid being wrong but to avoid being wrong on major decisions that matter. Mess up on a major decision and it could be near fatal for a company or a business in today’s fast changing world. One need only look at how change has impacted companies in industries such as newspaper, shopping mall, bookstore, video rental, brick and mortar retail, etc. Miss a key challenge or trend by clinging to old business as usual thinking and you may not have a business in a year.
Clearly decisions that need to be made right need to be major decisions focused on the dynamic continuation of the business. That’s why to deal with decision issues, our firm created a Power Quadrant for Decision Making to identify the choices which have the most impact on a business.
Prosper Insights & Analytics CEO Gary Drenik shares his thoughts regarding the real opportunity for big data and lets readers in on a little secret. Read it here.
Plus we’ve compiled all of his recent posts on the topic in one place to tell the true story about big data and help you navigate the big data waters. These articles provide insight and understanding to identify the opportunity from hype in the big data world.
This is a must-read if your organization is considering taking the big data plunge! View the PDF.
In 2014, the lure of big data solutions will catch many executives in a maze of both useful and useless data, and the result will be a big disappointment if they don’t have the right strategy.
As businesses clamor to participate in big data initiatives, they are risking millions of dollars on software and servers with no certainty of any useful outcomes and, in some cases, any outcomes at all. Building a huge data warehouse is just the start but should never be the goal. William Binney, creator of some of the computer code used by the NSA to spy on international Internet traffic, said recently that the agency knows so much that it can’t understand what it has. “What they are doing is making themselves dysfunctional by taking all this data. The agency is drowning in information,” said Binney. If the world’s leading data collection and analysis agency can have a problem of “too much data,” then it’s not farfetched to assume companies diving into big data may need a life jacket. Continue reading →