Decision-making process

The way to make the right decisions in the business world

  1. What is more important to us as a revenue or profitability business organization?
  2. Monthly sales amounts or Arpu?

It is said that what matters is the product. But the answer is certainly more complicated. We as a business organization are at the crossroads of decision-making regarding the revenue of a new product or service into the portfolio (Portfolio or alternatively discontinuing the sale of an existing product), It is understood that many factors and variables are involved in the process (technological, 21, time, competitors, market impacts, etc.).

There are cases in which decision-making requires us to choose from a wide variety of possible alternatives or alternatively out of a limited number of possible alternatives.

Stages in the decisionmaking process

  1. Data collection – Data collection is critical to making the decision.
    • Data that is immediately available to us decision makers.
    • When it comes to data that is immediately available to us decision makers, it helps us make decisions online.
    • Data that requires a lot of investment in collecting them.
      • Like polls.
      • Studies.
      • Business intelligence.
      • Gathering information about the competitors.
  2. Data analysis – This is the stage in which we connect and cross-cross data in order to get a better assessment of the situation.
  3. Formulating alternatives – presenting the alternatives at stake based on data and market analyses.
  4. Weighing the different alternatives – comparing the possibilities, by examining the advantages and disadvantages of each. Weighing the alternatives is sometimes an intuitive action, and sometimes is done systematically and complexly, for example by weighing each alternative according to a list of parameters, giving weight to each parameter, specifying each alternative in each parameter, and calculating a weighted score for each alternative. Sometimes a decision support system or a professional consultant assists in this process. At this stage, cost-benefit analysis or risk-benefit analysis can also be performed, depending on the quantity and reliability of the existing information.
  5. Choosing an alternative – making a decision at the company’s management level after examining all the parameters and in accordance with the construction of a work plan and Gant for launch.

Decision making model 

We use a decision-making model that can compare alternatives according to the same parameters and weights. The following is the model as shown in the following example:

  • The above example can be seen that although Product A had better economic indicators (income and profitability). Following the results of the above data, it was decided not to launch it because it is a complex product for sale and is very difficult to operate after the sale.

Why are we?

Our experts make sure to sit down with the relevant parties in the business and discuss all these questions and other questions. They perform an in-depth analysis of the answers and in-depth familiarity with the specific needs and characteristics of your business. They then formulate all the insights and recommendations that are best suited for you and your business,

Through all of these, it is possible to embark on a joint path of building a marketing strategy and business development, including addressing the points of failure in the organization and improving work processes. This move will allow you to maximize your business goals and business.

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