Real Case Analysis on Volero Energy-Fact Based Decision Making

1885 Words Mar 23rd, 2013 8 Pages
Kathmandu University School Of Management (KUSOM)

Valero Energy, Elkay Manufacturing, J&J , and Overstock.com : The Move Toward Fact – Based Decision Making

Submitted To: Mr. Sandeep Timsina Course Instructor

Submitted By: Alisha Shah (12327) MBA – Term III, Date : 20th November, 2012

Valero Energy, Elkay Manufacturing, J&J , and Overstock.com : The Move Toward Fact – Based Decision Making
Case Synopsis
Data driven decision making or the fact based decision making is the typically adopted approach by many organizations. Organizations have been able to adopt it by synthesizing and sharing the key performance indicators, drawing insight from the information and developing culture
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| Uses both metrics and KPI. Dashboard uses KPI’s to highlight milestones in operation. | Visual Data technique used | It basically uses symbols and icons. | Dashboard uses mostly graphs, grids, gauges and variety of visualization technique to highlight the operational data. | Methodology | Most scoreboards are attached to methodology such as balanced scoreboards or TQM. | Dashboards are generally not attached to such methodologies. | Data | It provides data in summarized form for strategic decision | Dashboard provide more detailed data | Data refreshment | Monthly, quarterly, Annually | Intraday | Example: Customer relationship Dashboard/Scoreboards | Customer relationship dashboards use lots of measures that give you data about how yourteam is operating, but provide little insight into progress towards your goal of reaching maximum resolutions. Its measuring/monitoring, but not managing | Customerrelationship scorecards presents a quick picture of which strategy you need to concentrateto improve customer satisfaction but lacks any detail as to why are you struggling inBringing up maximum resolutions. |
It is necessary for the managers to know the difference between the two because of the following reasons: * By understanding the