Quality Management Data-Driven Decisions Fail and How to Fix It

Abstract

The PwC survey regarding data-driven decision making of over 1,000 senior executives concludes that organizations with data-driven decision making are performing significantly better at their decision making. This statistic would suggest an optimistic outlook, but we see a poor sign with quality management, where more information is not always better.They have over 402.74 million terabytes of data to generate daily and yet most of the organizations are struggling to convert this information into fruitful quality improvements. In reality, bad data quality almost always creates wrong conclusions, which in turn costed money and missed opportunities. It is especially disturbing to note, however, that 49 percent of Fortune 1,000 companies have already benefitted of their value from their data based initiatives, of which, 37 percent involve reducing their total cost of ownership.Next, we will investigate why data driven decision making mostly fails in the quality management, and even more importantly, how to rectify these defects. We’ll explore practical solutions that bridge gap between data collection and actual quality improvement, down to breaking down data silos and developing meaningful metrics. The purpose of our efforts is to assist you in transforming your quality management system into one which actually performs in generating results through use of data-based decision making.