A novel maturity model for the information-driven decision-making process (DMP) in organisations is presented. The 'circumplex hierarchical representation of organisation maturity assessment' (CHROMA) model was developed for evaluating organisations regarding their competence and readiness in using information to support decisions. This model groups the most important informed decision factors into five dimensions data availability, data quality, data analysis and insights, information use and decision-making. The model addresses these dimensions in an organised and systematic way, providing a framework for characterising the organisation's use of information in DMPs from an uninitiated stage to a completely embedded one. This model was tested in a pilot study on three small/medium-sized enterprises. The assessment involves interviewing key company personnel and evaluating the attributes and dimensions of the CHROMA model. Results indicate that the model is useful for identifying strengths and weaknesses, thereby providing insights for prioritising improvement actions.Peer ReviewedPostprint (author's final draft
Purpose: This article presents a maturity model for the evaluation of the information-driven decision-making process (DMP) in small and medium enterprises. This model is called "Simplified Holistic Approach to DMP Evaluation (SHADE)". The SHADE model is based in the "Circumplex Hierarchical Representation of the Organization Maturity Assessment" (CHROMA) framework for characterizing the information-driven DMP in organizations Design/methodology/approach: The CHROMA-SHADE provides a competency evaluation methodology regarding the SME's use of data for making better-informed decisions. This model groups the main factors influencing the information-driven DMP and classifies them into five dimensions: data availability, data quality, data analysis and insights, information use and decision-making. It addresses these dimensions systematically, delivering a framework for positioning the organization from an uninitiated to a completely embedded stage. The assessment consists of interviews based on a standardized open-ended questionnaire performed to key company personnel followed by an analysis of the answers and their scoring performed by an expert evaluator. Findings:The results of its application indicate this model is well adapted to the SMEs resulting useful for identifying strengths and weaknesses, thereby providing insights for prioritizing improvement actions. Originality/value:The CHROMA-SHADE model follows a novel, holistic approach that embraces the complexities inherent in a multiplicity of factors that, at the technological and management level, converge to enable more objective and better-supported decisions to be made through the intelligent use of information.
The decision-making process (DMP) is essential in organizations and has changed due to multidisciplinary research, greatly influenced by the progress in information technologies and computational science. This work’s objective is analysing the progressive interaction between DMP and information technologies and the consequent breakthroughs in how business is conducted since 1950 to recent times. Therefore, a chronological review of the information-driven DMP evolvement is presented. The major landmarks that defined how technology influenced how information is generated, stored, managed, and used for making better decisions, minimizing the uncertainty and gaining knowledge, are covered. The findings showed that even if current data-driven trends in managerial decision making have led to competitive advantages and business opportunities, there is still a gap between the technological capabilities and the organizational needs. Nowadays, it has been reported that the adoption of technology solutions in many companies is faster than their capacity to adapt at managerial level. Aware of this reality, the “Circumplex Hierarchical Representation of Organization Maturity Assessment” (CHROMA) model has been developed. This tool makes it possible to evaluate whether the management of organizations is making decisions using the available data correctly and optimizing their information systems.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.
hi@scite.ai
10624 S. Eastern Ave., Ste. A-614
Henderson, NV 89052, USA
Copyright © 2024 scite LLC. All rights reserved.
Made with 💙 for researchers
Part of the Research Solutions Family.