data-based decisions making featured image

KNOLSKAPE Introduces A New Simulation, Data-Based Decision Making to Its Portfolio!

KNOLSKAPE Introduces A New Simulation, Data-Based Decision Making to Its Portfolio!

data-based decisions making featured image

Nov 17th, 2021 – KNOLSKAPE is excited to announce its newest offering, DATA-BASED DECISION MAKING.

The event was hosted on 17th Nov 2021, at 11:30 am IST. We also had a guest speaker for the event, Goda RamKumar, AVP, Data Science, Swiggy who shared her industry perspective on data-based decision making. She also highlighted some of the skills- individuals, leaders, and managers required to make data-based decisions.

“We’re literally swimming in an ocean of data today and the organizations that’ll be successful in the future are the ones that can harness the power of data and convert this data into business value.”

Rajiv Jayaraman, Founder-CEO, KNOLSKAPE

Did you know that lack of employee skills is one of the major reasons that’s stopping organizations from being data-smart? And that’s a problem we’re trying to address via KNOLSKAPE’s Data-Based Decision Making Simulation.

In the real world, our decisions are sometimes based on data, and most of the time, they are based on HIPPO (Highest paid person’s opinion). However, the days of exchanging data-free opinions are long gone. While we give these acronyms too much importance, we lose track of deep user insight and a clear roadmap. And eventually, we end up making wrong decisions.

Most of the decisions that we make in our organizations tend to be biased and hence we thought of introducing a realistic, rational, and logical approach- Data-Based Decision Making!

Designed on the GLAMR framework, Data-Based Decision Making bridges the gap between business and data analytics teams.

  • G- Goal: Define the problem
  • L- Levers: Find the necessary aspects that have an impact on the goal
  • A- Analysis: Opt for the correct analysis to derive insights
  • M- Metric Based Decision: Go for the right solution based on metrics
  • R- Review: Use data to measure the impact on the business

Outcome

From a learner’s standpoint, this simulation-based offering helps identify the need for data-based decision making and helps them solve business problems using data. From an organization’s point of view, the simulation helps build a strong culture of data-based decision making, at various levels in the organization.

Data-based Decisions Making Product Launch Webcast

How Do You Put the Simulation to Work?

Organizations today generate a lot of data, but they aren’t able to harness its value. That’s where Data-Based Decision Making comes to rescue. It inculcates a data-centric approach that makes the best use of analytics to help learners achieve desired business objectives.

See also  KNOLSKAPE a proud sponsor and supporter of NHRD Showcase in Bangalore

It allows leaders to derive more value out of data and analytics available to the organization.
This is accomplished through a variety of courses, starting from understanding the fundamentals of data for business to leveraging analytics to solve business problems, visualizing data, and translating it into effective decision making.

The simulation replicates the real-world scenario and allows learners to solve business problems by practicing data-based decision making.

What Are the Various Competencies That Get Measured Using Data-Based Decision Making?

This 30-40 min simulation on Data-Based Decision Making measures the learner’s ability to define the problem, leverage data, and derive valuable insights that help solve day-to-day business challenges.

Let’s take a look at each of these competencies in detail-

  • Problem Definition- Defines a business problem and translates it into data by asking the right questions.
  • Analysis Approach- Takes into account the different analytical approaches while solving business problems.
  • Insight Driven Approach- Leverage insights to fuel informed decisions.
  • Outcome Orientation- Considers business outcomes while making the next move.

Delivery Model

Currently, the product is available in Instructor-led Training (ILT) and Virtual Instructor-led Training ( VILT) format. However, we’re in the process of creating a self-paced version wherein the learning is primarily video-based.

Get in Touch With Us!

In case you’re curious to know how the simulation can help you make sound data-based decisions, we’re pleased to talk through your goals and spend 30-40 minutes doing a quick demo for you or your team. Feel free to contact us!

About KNOLSKAPE

KNOLSKAPE is one of the world’s best experiential learning platforms. Leveraging the world’s largest library of online business simulations, rich talent intelligence and a cutting-edge learning experience platform, KNOLSKAPE helps leaders and organizations develop future-ready leaders through experiential learning.

With direct presence in the US, India, Singapore, Malaysia, and partnerships with 20+ countries across the globe, KNOLSKAPE serves over 300 leading organizations across the globe and industries, reaching over 100,000 learners each year.Top B-Schools and Consulting Firms around the world partner with us as well to build, develop and deploy cutting-edge learning solutions.

A certified Great Place to Work® organization, KNOLSKAPE has also been recognized as a global top 20 gamification company and a leader in experiential learning by Brandon Hall, Frost & Sullivan, and Bersin by Deloitte

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About KNOLSKAPE

KNOLSKAPE is a global leader in experiential learning with a mission to help organizations and employees become future ready. Using a large award-winning portfolio of simulations aligned with 100+ competencies and cutting-edge talent intelligence, KNOLSKAPE produces stellar outcomes for more than 375+ organizations across 75 countries. Driven by research and thought leadership, KNOLSKAPE offers its products and solutions in a flexible subscription model powered by omni-channel delivery.

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