Morning Advantage: It's a Big Data World, and Puny Humans Just Mess It Up
HBR.org 2012-06-06
In a deeply researched Deloitte Review article, James Guszcza and John Lucker look at why many organizations are struggling with the use of analytics. We'll summarize their key finding here: It's the humans' fault. The data you mine is only as good as what you do with it — and therein lays the problem. As the authors write, "We have encountered many organizations that, often out of a combination of inertia, competing priorities and culture of skepticism" about business analytics, spend years deliberating before taking the first step. "Others eagerly embrace the notion of analytics but treat it as an 'all-or-nothing' proposition requiring data or algorithmic perfection before actions can be taken." Indeed, some companies swing from one extreme to the other. If any of this sounds familiar, take heart: you are in good company. Dig into the article with the goal of developing a company-wide vision of the role that analytics play in decision-making — and how data can complement the expertise of individuals, not compete with it.
Be Proud to Imitate (Ivey Business Journal)
This item in from HBR's Andy O'Connell. Is anything as rare and as valuable to a company as the ability to innovate? Yes — the ability to imitate, writes Oded Shenkar of The Ohio State University. Copying is nothing to scoff at. With the economic returns to innovation declining, imitation is a critical capability — companies should perfect the art of replicating existing products, processes, or models in new markets or regions where they might prove to be highly lucrative. To do this successfully, a company must have a culture that enables employees to view the world from someone else’s perspective, an ability that’s common among firms with extensive multinational experience. (Full disclosure: HBR Press published Shenkar's book on this topic.)
Job Promotions Are Good for Your Health (The Guardian)
Ever hear someone dismiss a missed job promotion with a line like, "It's just as well. I didn't need the added stress"? Well, we hate to rub salt in the career wound, but research indicates that not getting the promotion to greater responsibilities may turn out to be more physically damaging than the stress of added duties. Researchers found that civil servants in departments with high rates of promotion were approximately 20% less likely to develop heart disease that counterparts with lower promotion rates. This is consistent with other research connecting health and success, like the studies showing that Oscar winners, Nobel Laureates, and baseball hall-of-famers outlive those who just missed out.
Expertise is Overrated
All Hail the Generalist (HBR.org) The New Path to Organisational Change (Business Strategy Review) How To Plan a Great Executive Retreat (Chief Executive)