Decision analysis is critical for any business. You must be able to make the right decision right on time. Decision analytics require you to look at your data in the decision-making process. Being able to rely on your data can make this process easier and you can rest assured that you have made strides to better your organization. We have three best practices when it comes to decision analytics that will help you along the way. Intuition Analytics can be the opposite of intuition sometimes.
Many companies get in a groove, get comfortable and go with it. Your employees know what to do to get the job done and everyone knows what to expect. We have all been there, we get comfortable and fall into a routine. However, there may be room for improvement. Are there inefficiencies you are letting slip? Is your company staying adaptable? Are your numbers being tracked, and if they are, what are they telling you? These are all factors you should consider regularly to keep your company performing at the height of its ability. Make sure your company is as effective as it can be by auditing your effectiveness.
When you look into building integrations, there is much to consider. One of the first decisions a company needs to make, once they have a picture of what the integration will be capable of, is to develop in-house or not to take the project outside of the company. The next order of business: the cost. Your first instinct might be that developing in-house will be the most cost effective way to go about it. Taking a holistic look at what an in-house integration will take, could change your mind. Let’s look in a little more detail at what it will take. When looking strictly at the integration there are a few things to consider: the integration’s deadline, the number of integrations and their complexity, updates and new releases the integrations will need.
The debate between cloud backup and on-site hard drive backup has been ongoing. There are pros and cons to consider for each including speed and reliability. Each of the solutions has its own vulnerabilities and risks associated with putting your company data on them. However, if we set all of those aside and only look at the bang for your buck, which one would win? For the hard drive option, when it comes right down to it, the larger storage space you want on your hard drive, the more you will pay.
Whether you are the vision creator of a startup or leading the charge of an established corporation, technology is changing and with that, your business practices around technology might need a refresh. Leaving all of your company’s tech-related decisions up to the CIO or CTO isn’t enough anymore. Creating a strategy around technology is essential to define your company’s path forward so as the CEO, get involved. To make sure you are starting in the right place and heading in the right directions, take a look at these 5 areas of your technology.