Real Case Analysis on Volero Energy-Fact Based Decision Making
Kathmandu University School Of Management (KUSOM)
Valero Energy, Elkay Manufacturing, J&J , and Overstock.com : The Move Toward Fact – Based Decision Making
Submitted To: Mr. Sandeep Timsina Course Instructor
Submitted By: Alisha Shah (12327) MBA – Term III, Date : 20th November, 2012
Valero Energy, Elkay Manufacturing, J&J , and Overstock.com : The Move Toward Fact – Based Decision Making
Case Synopsis
Data driven decision making or the fact based decision making is the typically adopted approach by many organizations. Organizations have been able to adopt it by synthesizing and sharing the key performance indicators, drawing insight from the information and developing culture for fact based decision making. Among the many companies Valero Energy has been able to capitalize on it by utilizing Refining Dashboards. To achieve “Commitment to excellence” and “reduced energy consumptions” it has been able to collect real time data of plant and equipments. Dashboards and Scoreboards are the tools utilized by the organizations to collect real time data and take corrective actions to improve performance. Elkay Manufacturing have adopted the approach of fact based decision making by utilizing softwares like “Host Analytics” software- performance management system, Acron Performance Analyzer – costing software, etc..J&J have utilized scoreboards in its various business units and SKU like pharmaceuticals, consumers, medical device etc .It has used various matrices to assess the performance in these business units. E-commerce based companies like Overstock.com have utilized the fact based approach to make sound financial and operational decisions. Hence there is ongoing trend of companies for adopting fact based decision making..
Questions
1. What is the Difference Between a “dashboard” and a “scoreboard”? Why is it important that the managers know the difference between the two? What can they learn from
Valero Energy, Elkay Manufacturing, J&J , and Overstock.com : The Move Toward Fact – Based Decision Making
Submitted To: Mr. Sandeep Timsina Course Instructor
Submitted By: Alisha Shah (12327) MBA – Term III, Date : 20th November, 2012
Valero Energy, Elkay Manufacturing, J&J , and Overstock.com : The Move Toward Fact – Based Decision Making
Case Synopsis
Data driven decision making or the fact based decision making is the typically adopted approach by many organizations. Organizations have been able to adopt it by synthesizing and sharing the key performance indicators, drawing insight from the information and developing culture for fact based decision making. Among the many companies Valero Energy has been able to capitalize on it by utilizing Refining Dashboards. To achieve “Commitment to excellence” and “reduced energy consumptions” it has been able to collect real time data of plant and equipments. Dashboards and Scoreboards are the tools utilized by the organizations to collect real time data and take corrective actions to improve performance. Elkay Manufacturing have adopted the approach of fact based decision making by utilizing softwares like “Host Analytics” software- performance management system, Acron Performance Analyzer – costing software, etc..J&J have utilized scoreboards in its various business units and SKU like pharmaceuticals, consumers, medical device etc .It has used various matrices to assess the performance in these business units. E-commerce based companies like Overstock.com have utilized the fact based approach to make sound financial and operational decisions. Hence there is ongoing trend of companies for adopting fact based decision making..
Questions
1. What is the Difference Between a “dashboard” and a “scoreboard”? Why is it important that the managers know the difference between the two? What can they learn from
References: http://www.businessintelligencecentre.com/intelligence/images/stories/Scorecard%20and%20Dashboard.pdf