Executives and managers at the top of an organization’s hierarchy need to become more comfortable with delegating decisions to their employees. Employees make hundreds, possibly thousands, of decisions every day, such as pricing, customer targeting, risk mitigation and freight distribution routing. Incrementally better small decisions add up, and may contribute to the financial bottom line more than the few big decisions made by executives. Today’s problems and opportunities are increasingly more complex, rather than being just complicated. Applying analytics will be essential to sustain a competitive edge.
Gary Cokins is the founder of Analytics-Based Performance Management LLC, an advisory firm. He is an internationally recognized expert, speaker and author in advanced cost management and performance improvement systems previously a principal consultant with SAS. You can contact him at email@example.com. For more of Cokins' unique look at the world, visit his website at www.garycokins.com.