essentials is a series of books specially designed for readers who want to gain an overview of a topic in a short time. These books contain the essence of what is considered “state of the art” in the current professional discussion and in practice. essentials inform quick, straightforward and easy to understand.
Data-driven management (DDM) is on everyone’s lips. New technologies offer unimagined opportunities if they are used with concept and competence. The buzzwords are Big Data, Blockchain, Artificial Intelligence (AI), Machine Learning or Predictive Marketing. But according to a recent study by Fujitsu, just 5% of all companies today can be considered “data-driven,” meaning that 95% of all organizations are flying blind on data. This represents a huge risk for all stakeholders. Moreover, in this context, many managers believe that simply buying an AI-IT solution will solve this data blindness problem, which is a huge fallacy. Because just like children in elementary school who first learn mental arithmetic and only then reach for the calculator, managers must first master and learn the basic concepts and competencies of data-driven management in order to be able to apply and use these new technologies in a meaningful and valid way.
This book briefly and concisely describes the path to data-driven management based on the authors’ tried-and-tested process model. Without prior knowledge, you get a comprehensive insight into the subject matter with many relevant concepts and tips. The most important terms in the environment of data-driven management are explained. The process model shows and describes the individual steps simply and understandably for everyone, in order to quickly and effectively implement a stringent data-driven management without external experts and investments.
What you can find in this essential:
– An introduction to the current situation and the importance of data-driven management (DDM)
– Various short definitions of relevant terms in the context of DDM
– A tool for status analysis on DDM in an organization
– A process model for the development or optimization of an already existing system to DDM
– The Quick Check for the self-assessment to determine the own DDM-Readiness
– Brief presentation of various templates and tools that have been tested and are relevant
– An outlook on the further development of DDM
– Many further links to articles and sources to deepen the content in this essential