Here is the second installment of my conversation with Regina Hepp (Principal-in-Charge and Founder with The Rejuvi Venture, LLC.) This is in continuation of my blog post from last week. The context, as you might recall, was my blog post from April 12th, 2021 (Use the Less is More Principle in Analytics).
An aspect that I laid out in that post was that technology is giving us the opportunity to leverage big data like never before. However, precisely because of this, we are being distracted by the shiny bobble and have stopped making analytics about the ‘first principle(s)’, i.e., ‘describing’, ‘diagnosing’, ‘predicting’ and 'prescribing.' If applied appropriately, analytics should help us understand how stimulus effects outcomes. There are ‘terabytes’ of data extracted, transformed and stored for diagnosis that never see the light of day. Because storage and computing are getting cheaper, this problem is multiplying at geometric rates inside organizations as we speak. The greater the resource, the faster the multiplication. To navigate this conundrum it is high time leaders upgraded the analytic quotient for their organizations. This could be done by either up-skilling themselves, or by surrounding themselves with analytic teams that do not have a tendency to ‘over engineer’ analytic solutions.
Leadership development has worked mightily to understand leader excellence. When a model is crafted and validated, it affords a good baseline for leaders to receive feedback and compare leadership capability. A leader can learn, for example, where he or she is over or under-indexed in relationship to industry norms. The same is true for organization development and business excellence. When a model is crafted and validated, it affords a good baseline for businesses to receive feedback and compare leadership capacity. Just like leaders, a business can learn where it is over or under-indexed. Baselines, comparisons and norms are descriptive and diagnostic; They rarely translate to business impact. The result? Leaders and their businesses can’t be predictive nor prescriptive.
Rejuvi’ POV is about building on the good stories of leadership descriptive and diagnostic analytics and making them great ones. This is done by measuring the business impact of COMBINED leader excellence + business excellence. Thus, analytics brings the predictive + prescriptive PROWESS needed to make the most of exceptional leadership.
What is there not to agree with?!
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