Optimizing Data-to-Learning-to-Action: The Modern Approach to Continuous Performance Improvement for Businesses

© Steven Flinn 2018

Steven FlinnOptimizing Data-to-Learning-to-Actionhttps://doi.org/10.1007/978-1-4842-3531-7_6

6. Quantifying the Value

Steven Flinn¹ 

(1)

Brenham, TX, Brenham, Texas, USA

 

In the last chapter, we reviewed some examples of working backward from decisions to understand the value of addressing bottlenecks on actionable learning. For instance, for the pricing example, we needed to understand how much more profit would be expected to be attained if we could better estimate competitors’ bids. And, more particularly, we wanted to know how much more profit would be expected for various levels of accuracy in predicting competitors’ bids. With that information in hand, we could then work backward in our straightforward way to identify the ...