Vulcan - Leading with Analytics: Program Resources

Unit 6: Putting It All Together Faculty: Dr. Adam Mersereau and Dr. Brad Staats

Making and Implementing Decisions: • Using standard processes in organizations has been a key driver in both productivity and quality in an operation. • Lean production is found in a wide variety of settings, from manufacturing to law firms or healthcare. • Unfortunately, people don’t always do what they should. Examples: food safety, medical errors, etc… • What can we do to address process compliance issues? o Example: Good hygiene practices in medical care to reduce infection rates. First Steps: Example: Hand hygiene compliance rate in a hospital. • Ask Connecting Questions – Ensure you ask the correct questions. • Collect the data – What and how are you collecting data? Do you have the necessary data? • Analyze the data – Consider the volume, velocity and variety of data. • Visualize the data – Are you trying to explore, educate or persuade? Linear regression is the “go-to” tool. Availability Bias: • When you make assumptions based on available data only (remembering a plane crash), not from appropriate sources of data. • Need relevant and representative information to avoid the availability bias. Counterfactual Scenario: What would have happened to the treated group if they did not have this intervention? Example: Hand hygiene compliance rate in a hospital. • Experimental group (receiving intervention) vs. the Control group (not receiving intervention). Ideally, want to assign people to each group randomly and track their behavior over time. • Monitor individual or unit-level performance. Example: How often is an individual washing their hands vs. how many times did the hand sanitizer get used for the entire hospital? Key Takeaways: • Look at all variables across all models. Use data to draw conclusions. • If you aren’t using data analytics as an organization, you are falling behind. • If you are using data analytics, is that enough? Are you analyzing the appropriate data? • Turn data into value: “We are not in banking, we are in information.” – Richard Fairbank, Capitol One Founder, Chairman and CEO.

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