Using driver analytics to improve insights and decisions
The future of decision making
Operating for more than a century and in 200 countries, one consumer products company had seen its fair share of economic, market and consumer ups and downs. But there was something about today's unpredictable environment that was different.
The company knew that to remain competitive, it needed better visibility into what it was selling globally, to whom, and how volatile consumer, economic and market forces would impact future sales.
The company was already collecting data on its financial and operational activity. But its employees had little or no access to that information — data they needed to make strategic, effective and timely decisions.
The company was unable to turn its information into insights in a way that enabled it to link strategy, planning, execution and reporting. Instead, it had to rely on a combination of instinct and experience, supported by ad hoc analysis.
The company recognized the need for a structured approach to improve both tactical and strategic decision-making. The company needed to enable country managers to use local insights to adapt to shifting consumer demands.
Management needed to make faster, more informed decisions on a global basis to prioritize growth initiatives.
By employing a holistic performance management approach that integrated driver analytics directly into reporting tools and decision processes, the company was able to improve its decision-making. For the first time, the company had a unified perspective on brand growth, geographic opportunity and competitor behavior.
Its next step was to use its strategic plan drivers to compare investment scenarios and articulate a strategy. This strategy could be readily converted to operational targets and programs because the strategy was specific and actionable down to the driver level.