New Tool to Manage Big Data.

Position::IT News and Products
 
FREE EXCERPT

Experts in decision management at the University of Portsmouth have developed a new technique that looks at input, output and resource to help measure organisational efficiency and effectiveness. In a new study published this month, researchers outline how it will help decision-makers faced with large quantities of ambiguous and conflicting data to manage their business efficiently.

The technique uses a system of allocating importance to an organisation's outputs and inputs. It then analyses productivity based on efficient, effective, frugal and inefficient actions.

Results are displayed graphically, which makes it easier to interpret and provides a simple, effective means of improving information communication within an organisation. The model is currently applied to British universities --organisations currently facing doing more with less--but the researchers say that the technique can be applied to a wide range of businesses.

The tool is called PPA after PROMETHEE productivity analysis, where PROMETHEE stands for Preference Ranking Organization Method for Enrichment Evaluations. Professor Alessio Ishizaka from the University of Portsmouth explains how the technique will help in today's increasingly globalised, complex economy that is flooded with data.

"We now have the technologies allowing large volumes of data to be stored and transferred rapidly across large distances but the challenge is to work out how to extract the relevant information and use it to our advantage. An overload of poor or mismanaged information means wasting time and effort by focusing on the wrong things.

"The major shortcoming of most tools is that effectiveness is based only on output, focuses on a single indicator like output per worker and ignores resource. Organisations fail to account for more than one input--like labour and capital --and don't measure all the output produced. Our method is based on a combined measure of input and output and we assess productivity by examining the relationship...

To continue reading

REQUEST YOUR TRIAL