Since my military days, I have always had a passion for figuring out ways to shorten decision-making cycles. In most cases this has involved automating business processes and getting different systems and sensor devices to exchange data on a cyclic or on-demand basis. Now with the advent of the internet with faster and faster bandwidths, the possibility exists for businesses to about eliminate decision-making cycles.
Information Latency – A Prime Driver of Decision-Making Cycles. With the feasibility of businesses having real-time data, anywhere, any place, businesses need to re-think their decision-making cycles to eliminate information latency and harness real-time data. Instead of business operations having to wait on information, businesses can make decisions real-time. With real-time data, the possibility of “complete” information can be available in real-time, anytime. When you think about it, a lot of business decision cycles are based on waiting for reports or meetings to gain enough information to make a decision. With the potential of real-time data, anytime, anywhere, businesses have a real need to look at ways to innovate and transform their technology to harness real-time data and eliminate decision-making cycles driven by information latency.
Innovating Real-Time Decision-Making. With real-time data, USAF Col. John Boyd’s OODA decision-making loop becomes even more relevant to businesses. The OODA loop (for observe, orient, decide, and act) is a concept originally applied to military combat operations such as dogfights between fighter planes. The OODA loop has also been applied in the past to understand business operations. For businesses, shortening the OODA loop through information technology will always be a key innovation goal. With the advent of real-time data, IT innovation is even more key for businesses to make decisions faster and better in order to continue to offer superior products and services.
