data driven desicion making
TRANSCRIPT
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DATA DRIVEN DECISION MAKING
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Agenda
• To Find Out How You are as a DECISION MAKING MANAGER
• The IMPORTANCE of making DATA DRIVEN DECISION MAKING
• TIPS of how to adapt DATA (specially for people who do not enjoy math)
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Quick Test
• Do you engage the lowest levels of your operations in making strategic decisions?
• Do you make sure to include diverse data that cover multiple possible situations?
• Do you use data to understand your current state?
• Do you use backward and conservative planning?• Do you aim to learn new skills and develop/use
new data to maximize informed decision making?• Use data to learn weak points and identify
mistakes?
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Recruitment
Recruited:500
Raised: 50
Recruited:X
Raised: 100
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Recruitment
Recruited:5,000 Raised: 500
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Recruitment
Recruited:30,000 Raised: 3,000
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Recruitment
850,000 Raised: 85,000
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Recruitment
What happens to the other 765,000 Students?
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Identify the How to Improve Conversion:
What data do you need to make an informed decision?
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Global Citizen Summer 2015
Recruited:265 Intro\GD: 86 Interviews:
73 Pass: 51
34% 85% 70%
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Sign-Up Phase
Total:202,539
Form Views(Unique):
1,216
Actual Sign-Ups: 265
21.8%
0.28%
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What can we infer?• Sign-Up form might not be
user friendly• Information about Program
might be unclear• Engagement needs to be
more focused • Campaign language might
not be best for conversion
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Strategic Decisions To Be Made• Redesigned Sign-Up
Forms• Easier Access to Data• Revision of Campaign
Language• Redefinition of Target
Audience
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Actions Taken
• Removed Redundancy with Sign-Up Form
• Less Complicated Visual Styling
• Less Aggressive Campaign Language
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In Decision Making
SmartData
Smarter Decisions
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TIPS for DATA DRIVEN decision making• Credibility• Correlation• Calculation
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CredibilityWhere are you sourcing your data?
• Invest in Systems with Analytics
• Study your overall Population
• Remove Outliers From Figures
• Identify clearly your assumptions
• Analyze previous historical data
• Keep Data Accessible
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CorrelationWhat do these numbers mean?
• Use conversion rates and other measures to analyze weak links
• Create assumptions based on data (This University has the highest likelohood of signing up for this program based on the form, MOST GCs choose this destination during this time period)
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CorrelationWhat do these numbers mean?
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CalculationKeeping good data?
• Use measurable choices in Feedback form
• Keep track of things like attendees, rankings etc.
• Keep data safe and accessible• Learn Basic Statistic/Excel is your
friend• Plan with INFORMED
ASSUMPTIONS not gut feel or “Realities”
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Recommended ReadingHarvard Business Review Online:• An Introduction to Data-Driven Decisions
for Managers Who Don’t Like Math• Are you Data Driven? Take a Hard Look
in the Mirror
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Thank You