Business Intelligence / Analytics and Decision Making

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The CFO of a major pharmaceutical company had just finished listening to a business case for a major new database and analytics system when he asked the CIO, "Why can't your technology projects have the same clarity and quantified value analysis that we expect from our new drug development projects? Why is the cost accounted for so precisely, but the benefits are just lists of intangible promises? Can I believe either one of them?"

The CFO knew that some of the projects were essential and would add value to the business, but that a recent audit had shown that 7 out of 10 projects did not yield the benefits that were promised. He could not tell which category the proposed project would fall into. The technical wizardry was obvious and the amount of data that was invisible to them throughout the business was frustrating. His responsibility was to assure that they made informed decisions on which investments would provide the best return. He also wanted to unlock the potential value in all the data they had.

This webinar provides a perspective into proven methods for 1) aligning technology investments with business strategy, 2) quantifying the intangibles and costs with realistic ranges and risk analysis, and 3) making decisions with a higher level of confidence that you have the priorities right and will achieve the expected value from your investments. Key concepts will be applied to real world examples of technology investments that targeted opportunities spanning from operational excellence initiatives up to major strategic investments in new business areas. As essential as operational excellence is for the current business, having a process to look for inflection points or critical risks, then to develop and quantify ideas to create new competitive advantages keeps a business on the innovative ascendency path.

Specific techniques that will be described include 1) making the objectives explicit when there are competing agendas, 2) clarifying the strategic question to be answered, 3) creating viable alternatives rather than advocating a solution, 4) quantitatively analyzing the costs, benefits and risks to enable an informed decision, and 5) using the sensitivity analysis to focus on the right things in the change management and implementation phase.

At an enterprise level, having the quantified value and strategic alignment of each technology investment provides a robust foundation for prioritizing the portfolio and optimizing scarce resource allocation for the business. The webinar will briefly touch on this topic to illustrate how to assure focus on the right things. It has been shown that doing fewer of the right projects actually accomplishes more for the business than keeping everything that looks like a good idea on your plate.

About the speakers:

Gerald A. Bush, Ph.D. - works with companies on innovative business strategies, dealing with complex business decisions and building an adaptive approach in dynamic markets. Typical clients have included Abbott, GSK, J&J, Kimberly Clark, Merck, Novartis, Roche, Delta Air Lines, JetBlue, Chevron, Dow, ExxonMobil, Shell, Motorola and HP. Typical engagements include creation of novel product concepts, development of cost-advantaged operations, decisions on global marketing, organizational redesign and integration of acquisitions, decisions on major facilities investments, resolution of labor-management issues and adoption of information technology strategies. Gary is a graduate from Georgia Institute of Technology. He is an invited speaker at the New York University Stern School for Business and the Institute for Operations Research and Management Sciences.

Robert D. Brown, III - is an experienced decision strategist with over 17 years of professional experience and a world class architect of complex, quantitative models using Analytica software. He provides advanced decision guidance, risk management, and business analytics to help executive decision makers gain deep insights into complex and risky capital investment opportunities, system behavior, and planning exercises. Robert is a graduate from the school of Mechanical Engineering at Georgia Institute of Technology.

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