When data helps to make decisions
We can no longer count the number of occurrences of the word "data" in our daily readings and interactions. A catch-all term for some, a numerical abstraction for others, what is really behind this increasingly overused term? In this first article, let's see how data can become a real decision-making machine to outperform the competition.
Asking the right questions
Many business leaders misunderstand the stakes of data, mistakenly interpreting the volume of data as a guarantee of seriousness and quality, a necessary condition for a good predictive approach to their market, when in fact they should do exactly the opposite! The data approach should not be understood as such, but rather in a business logic, by simply answering this basic question: "What is the purpose of the data for me?" For it is by precisely setting operational performance objectives that one determines the appropriate data approach.
The key to success: reducing time-to-market...
The very notion of time-to-market actually encompasses a multitude of components, which go far beyond just duration. However, at this stage, it seems essential to distinguish between overall durations and intermediate durations, because it is only when one has a sufficiently detailed level of analysis that one can really target the margins for improvement that can be achieved.
In parallel, identifying actionable improvement levers requires taking into account a certain number of essential elements: product typology, seasonality, suppliers, order volume, etc. However, considering the reduction of time-to-market as the sole and unique objective is a serious mistake.
... but not only!
Because it is indeed a matter of optimizing procurement performance: negotiated prices for purchases, quality of supplier relationships and the products concerned, etc. These are all very operational data that the company inherently has, but where the problem lies is that it is rare that they are structured in a way that can be easily analyzed and made readily available.
Certainly, the number of quality inspections is somewhere in the Excel spreadsheets of the procurement manager in charge of the order. Okay, there is a good chance that the quality manager can provide you with a file summarizing all the inspections carried out by season. But when it comes to resonating this data with each other, by crossing it with the same supplier's delivery delays, it's safe to say that things get complicated! Hence the importance of having a tool that provides structured data for operational control aligned with this time-to-market optimization objective.