Stage 03: Data Analysed for Informed Decisions
Stage 03 is focussed on using mathematical and scientific expertise to unlock patterns and relationships hidden within data. We can aggregate previously isolated data sets and analyse them to reveal unexpected insights.
Your managerial instincts are complemented by deep insights that enable more informed decision-making. Sophisticated statistics, pattern spotting, indexing of data from multiple sources and machine learning algorithms combine to discover previously unknown correlations.
A typical stage 03 scenario: A manufacturing company was looking to bring down the number of defects arising out of varying combination of issues across the production process flow. They had some level of analytics available by running queries, which helped them identify points of defect on the shop floor. However, those insights were not adequate to predict what combination of variables would lead to defects. Upon deploying advanced analytical, the occurrence of defects could be pre-empted and prevented.
At this stage, while in-depth analytics enable sharper decision making, operational approvals still require your sign-off. The nature of these approvals is such that they do not involve complex decision making. Yet, the number of sign-offs are high, as they pertain to regular transactions, consuming your bandwidth, significantly and unnecessarily.
To mature to the next stage, the system is equipped to take routine decisions, flagging only the exceptions that need to be evaluated by you.