Why we need to think like scientists: Business strategy

TIP OF THE WEEK comes from Marc Emmer, President of Optimize Inc., a management consulting firm specializing in strategic planning. In his article Business strategy: Why we need to think like scientists he notes that In the formation of strategy, CEOs should think like scientists”!

We all understand that we need to use data to make informed decisions. Emmer lists 8 data points and methods for evaluating those decision-making processes. He briefly describes the 8 data points and what those points might mean for your business.

1. Segmentation

2. Market analysis

3. Market intelligence

4. A/B testing

5. Internal data

6. Financial projections

7. Benchmarks

8. KPIs

“…we need to promote divergent thinking in our organizations so we can achieve convergent thinking. This requires a diverse range of people on a management team, capable of thinking like scientists” ~Marc

Well worth the read: Business strategy: Why we need to think like scientists