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Summary Data-Driven Management: The Key to Success in Modern Business

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Learn how data-driven management helps companies make better decisions, increase efficiency, and gain competitive advantage. This course covers essential topics such as data analysis, business intelligence, machine learning, and the application of modern technologies in various business processes. Learn how to collect, analyze, and visualize data to gain strategic insights and take your business to the next level. Perfect for professionals who want to excel in a data-driven world.

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Uploaded on
December 2, 2024
Number of pages
23
Written in
2024/2025
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Data-driven management

Introduction
Questions:
 What are the main processes in a company and what software is
being used?
 What data is generated in which business processes?
 What are the KPI’s in each process?
 How can we make efficient dashboards?


What are the main processes in a company?


Data
Operatio
ns


Purchas Sales
e Inputs Output
(ingrediënts) (product)


Finance HR



Purchase (inputs)  you buy ingredients or stuff to bring them into the
business to make something from them
Oparations (Finance & HR)  by the finances and the HR is calculated how
much money can be spent and who all can be employed while the
ingredients transform into a product
Inkomsten – kosten = winst


Sales (output)  now is the time to be able to sell the product through
proper marketing and sales
Data  business intelligence, making decisions is taking the right
information and based on data

,Management = about taking decisions
Data driven = what is better you think, if you make decisions?
You need the right knowledge and tools = it’s like hiking
 Know the route  understand the processes
 Have the right gear  use the right software
 Are you prepared  get a clear overview


Right software?
CEO

Operatio
Sales HR Finance
ns
1 software & 1 database = ERP


ERP = Enterprise resource planning is a computer programme used within
organisations to support all processes within the company.
 A customer, a supplier, an article, an employee, etc…
 You can more easily link processes to each other
 Data is one large database, so it is also easy to link to each other
 No data on your own computer, one point of truth, if someone
leaves everything


Not every company needs an ERP software, factors:
 Size of an company
 Sector
 Market
Sometimes it is better to have a few easy stand-alone solutions and
integrate them, rather than having a complex ERP system, especially for
small/mid-size companies.


Is one ERP system enough for all companies?
For large and complex companies, ERP will be the core of their processes,
but for some functionality they will need extra software that is not
included in standard ERP. This can be:
 Custom development on the ERP system
 Integrations with other software

, API  application programming interface, using the cloud and integrate
business intelligence  important to build clear, interactive and user-
friendly dashboards (5 second rule)
The AI hype
 Very convenient to do daily ‘text-based’ tasks
 Big tech with massieve amount of data
!! there are also a lot of opportunities for normal companies with a normal
database to get more out of their own data  machine learning !!
You are building a treasure of data that can lift you business to the next
level
Machine learning:




You nurture a machine learning model with all this data and it will be able
to predict if a new potential customer with certain features will buy your
product.



Data new customer 
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