Wednesday, February 20, 2013

Data-Driven Decisions?

We often hear the term. Data-driven decisions or data-based decisions. What does it really mean?
 
According to WhatIs.com, data-driven decision management (DDDM) is an approach to business governance that focuses on gathering data and analyzing it to guide corporate decisions and policies. The data-driven approach is gaining popularity within businesses as the amount of data available increases in tandem with market pressures.
 
Data-driven decision management is usually undertaken as a means of gaining a competitive advantage. A study from the MIT Center for Digital Business found that organizations driven most by data-based decision making had 4% higher productivity rates and 6% higher profits.
 
The success of the data-driven approach is reliant upon the quality of the data gathered and the effectiveness of its analysis and interpretation. Errors can creep into data analytics processes at any stage of the endeavor and serious issues can result when they do.



The two links below offer two perspectives on data-driven decisions from the New York Times.

http://www.nytimes.com/2011/04/24/business/24unboxed.html

http://www.nytimes.com/2013/02/19/opinion/brooks-what-data-cant-do.html?nl=todaysheadlines&emc=edit_th_20130219&_r=0

What is your opinion on and experience with data-driven or data-based decision making?

Wednesday, February 13, 2013

Iowa's Residential Housing Permits See Gain in 2012

Nearly 10,000 new permits were issued for residential housing in Iowa in 2012, an increase of more than 32% over 2011's total of 7,526. This marks the third consecutive increase in issued permits, with the most significant gain made from 2011 to 2012.
The permits were issued for construction of new single and multi-unit housing units. Single-unit housing accounts for an average of 77% of the total permits issued.
The total number of permits issued peaked in 2005 at 16,726 and in 2006 began to descend to a 2009 low of 7,130 (a 57.37% decline from 2005). In the same time period, employment in the construction sector dropped from 4.86% of total nonfarm employment in Iowa to 4.2% of total nonfarm employment. Currently, construction sector employment represents 4.48% of the total. 
 

Thursday, February 7, 2013

Technology's Impact on Industry

Today's article focuses on the potential impact of new and/or improved technology on industries and the associated jobs.

Click the link to see an article detailing the direct effect of technology on one northeast Iowa business and share your thoughts with us on the topic.

Quad Graphics Closing Dubuque Facility