The Deciding Factor: The Power of Analytics to Make Every Decision a Winner

The Deciding Factor: The Power of Analytics to Make Every Decision a Winner

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By (author) Larry E. Rosenberger, By (author) John Nash, By (author) Ann Graham

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  • Publisher: Jossey Bass Wiley
  • Format: Hardback | 272 pages
  • Dimensions: 155mm x 229mm x 28mm | 454g
  • Publication date: 3 April 2009
  • Publication City/Country: Chichester
  • ISBN 10: 0470398191
  • ISBN 13: 9780470398197
  • Illustrations note: Illustrations

Product description

By 2010, businesses worldwide will spend a total of $1.5 trillion annually on information technology hardware, software, and services. All corporations face the same challenge and opportunity: how to create value from unprecedented amounts of data available. The Deciding Factor shows how innovative consumer businesses from around the world are using the wealth of business data available to win and keep customers, innovate, and earn more profit through disciplined daily decision making. Too often, senior executives fail to appreciate how much value is created or lost in every decision. The Deciding Factor demystifies the systems and mathematical models that turn analysis of customer data into decisions that create business value. Larry E. Rosenberger (San Rafael, CA) is the former CEO of Fair Isaac and Fair Isaac's first Research Fellow. John Nash (Minneapolis, MN) is Vice President of Corporate Strategy at Fair Isaac. He previously worked for Seisint, Inc. (now a subsidiary of LexisNexis) and Accenture. Fair Isaac, creator of the FICO score, is the leading provider of decision management solutions, combining trusted advice, world-class analytics, and innovative applications to help businesses around the world make smarter decisions.

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Author information

Larry Rosenberger is widely recognized as an innovator in decision technology, particularly in consumer lending. During his tenure as CEO of Fair Isaac Corporation, revenues soared eight-fold over a nine-year time frame. He was named Fair Isaac's first analytic research fellow in 2007, following more than 33 years of service to the company. In this capacity, he continues to pursue research projects that advance Fair Isaac's analytic science. John Nash is Fair Isaac's vice-president of corporate strategy, leading strategy development across the company's product portfolio. Nash has worked with Fortune 500 companies in financial services, retail, consumer packaged goods, and high tech. Ann Graham is a contributor to and former deputy editor of strategy+business magazine, and has been a writer and editor for The Economist Group; Gartner, Inc.; Booz & Co.; and Knowledge@Wharton.

Flap copy

The Deciding FactorIn today's high-tech world, all companies are striving to createbusiness value from digital data, but the real value in data comesfrom how it is used to make decisions. At the end of the day, whatdrives the results your company achieves is the millions ofdecisions made every day that are influenced by customerinteractions and transactions.In this groundbreaking book, Larry Rosenberger and John Nashdraw on over fifty years of experience in helping companiesautomate, improve, and connect decisions. Using analytic techniquesfirst pioneered by Fair Isaac Corporation, the authors clearly showhow today's forward-thinking executives and managers are usinganalytic insights to ensure their decisions keep up withinformation complexity and the pace of change--especiallychanges in consumer behavior and attitudes, in regulations, and incompetitive actions and reactions. The authors explain how makingbetter decisions through a combination of data, mathematics, andsoftware can lead to a more customer-centric, cost-competitive, andcreative organization. Highly accessible, The Deciding Factor helps demystify the mathand information technology behind decision management for thebusiness manager who may not be a mathematics or computer sciencewizard. As practical as it is approachable, the book answers suchquestions as: How does a multinational consumer packaged-goodscompany build brand loyalty one person at a time? How does aconsumer credit-card company process millions of transactions everysecond and keep fraud under control? How can a big-box retailerincrease per-customer profitability?Rosenberger and Nash offer a much-needed resource for decisionmakers from the boardroom to the front line, a resource thatprovides guidance to create and unlock new sources of value from anorganization's decisions.

Table of contents

Introduction. 1. From Intuition to Algorithms: A Brief History of Using Analytics to Make Better Decisions. 2. How Analytics Makes Customer Relationships More Valuable: The Netflix, Best Buy, Tesco, and Harrah's Experience. 3. Co-Creation and Decision Management: How Consumers and Companies Share Data to Create Value. 4. The Disciplines of Decision Leaders: The Math, Mind-Set, and Technology for Managing Decisions. 5. The New Knowledge Workers: Defining the Talent Mix for Success with Analytics. 6. Demystifying Decision Management: A Primer on Various Analytic Tools and Techniques. 7. The Future of Decision Management: Using Differentiated Decisions to Gain Competitive Advantage. Notes. Appendix A: Fair Isaac's Decision Management Project Methodology. Appendix B: Glossary. Acknowledgments. The Authors. Index.