A Video Overview of Analytics and Risk Management

At a time of shrinking budgets and increasing expectations to do more with less, making better decisions based on informed judgment has taken on even more significance for both private sector and government organizations.

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By

Thomas H. Davenport

President's Distinguished Professor of Information, Technology & Management

Babson College tdavenport@babson.edu

James A Bailey

Professor of Accounting

Utah Valley University, (801) 709-3313, jabailey08@hotmail.com

Joe Eyerman

Senior Research Methodologist

RTI International 541-7139 eyerman@rti.org

David H. Schanzer

Associate Professor of the Practice

Duke University schanzer@duke.edu

Dr. Karen Hardy

Senior Advisor

National Academy of Public Administration khardy@napawash.org

By
Sirkka L. Jarvenpaa

Decisions based on bad information can lead to poor results and be quite costly to organizations. This may culminate in the squandering of opportunities, taking on unnecessary risk, misallocating resources, and ultimately not achieving strategic goals or objectives. At a time of shrinking budgets and increasing expectations to do more with less, making better decisions based on informed judgment has taken on even more significance for both private sector and government organizations. in a world inundated with all kinds of information, timely, relevant, and more predictive data can drive better decision making. This forum explores the usefulness of two tools—analytics and risk management—that can, when employed at an enterprise level, assist government agencies in strengthening their decisionmaking capabilities and, in turn, improve their overall performance.