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What does it mean to have a Data-Driven Analysis of our Business Goals?

iStock 1384452966 - Global Banking | Finance

Dr Badie - Global Banking | FinanceBy Dr.Farshad Badie is Lecturer, PostDoctoral Centre Coordinator and Scientific Journal Associate Editorat Berlin School of Business & Innovation (BSBI).

In the digital era, taking into account their specific goal (G), business people need to exercise to learn how to – conceptually, logically, and pragmatically – identify, organise, serialise and prioritise various technical concepts in order to set their future directions, as well as to ensure the most valuable functionality of their future G-based proposals, products and services.

More specifically, business people need to learn how to;

  • See the world from the perspective of G.
  • Make G-based descriptions and conceptions of the world.
  • Arrange wise G-based interactions and communications with other partners.
  • Collect, classify and identify feature data rely on those data for analysing and assessing G.
  • Identify, conceptualise, and understand significant requirements for the interpretation of G (based on their information-oriented analysis of their identified and classified data).
  • Prepare supportive backbones for their G-based systematic plans and manners (especially in connection with their industry partners).
  • Construct conceptual and logical interrelationships between G-based hypothesis and available technologies (as well as industries).

In my view, a business person’s (say John’s) knowledge of the world (based on his goal of “being efficient”) is an insightful and meaningful structure of his information-based (i.e. informative) data collections. In other words, John’s knowledge emerges out of his data collections that are experienced and/or perceived by him in order to make him an “efficient” person.

In more specific technical words, John needs to observe the world carefully and precisely in order to describe “being efficient” and what “being efficient” means for him. Accordingly, he needs to collect data based on his conception of “efficiency”. His collected data must be, quantificationally as well as from a quality point of view, identified by John. Correspondingly, John can describe his identified data to characterize and personalize his views of the world. Accordingly, he can typify his personalised data and, respectively, organise his various typified data. Now he can logically model his organised typified data to construct some informative data. He needs to describe his informative data based on his organised typified data. John can conceptualise his own description of his informative data based on his organised typified data. Consequently, he can specify the conceptualisation of his descriptions. Now he can analyse “being efficient” based upon his specification of the conceptualisation of the description of informative data based on the organised typified data.

In my opinion, in this framework, John will become concerned with his creative activities based on his conception of “being efficient” and rely on his analysed data. Correspondingly, he will be able to learn how to deal with the development of his innovative activities, how to plan and conduct his relevant communications, how to plan and manage his relevant collaborations, how to deal with innovative strategical modelling of his industry partners’ technical projects, and how to analytically justify and make decisions in order to find his best possible solutions for his industry partners’ technical projects.

Global Banking & Finance Review


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