Key Components of Quantitative Decision Making
摘要
This chapter introduces an executable approach to developing quantitative decision-making solutions. Leaders focused on robust data analysis, methods application and engagement from decision makers enhance their ability to solve problems and deliver results. The general approach presented includes three components. Exploration discusses the need to have a holistic view of the environment and measure success in accomplishing the objectives of the organization. Quantitative Decision Modeling discusses data mining and statistical analysis, identifying operational improvement methods, applying decision methodologies and selecting the best method supported by the data. Implementation discusses quantitative decision modeling and automating the decision process using robust project management techniques along with monitoring the success of accomplishing the objectives. This chapter also discusses the role of the operational leader in minimizing costs, maximizing service delivery, and delivering quality products. Tools, methods, systems, and processes are required to keep a business running on a day-to-day basis. Operational leaders must also interface with senior executives to meet the organizational objectives. Operational decisions impact organizational objectives. This chapter introduces the operational leader to quantitative decision-making processes and the use of robust analytics and tools to assist the operational leader in performing their job and provide quantitative insights into their organization's performance.