Leveraging Superior Facts and Analyses to Make Better Business Decisions

Event Date: April 11, 2011
Speaker: Dr. Thomas Frese
Speaker Affiliation: McKinsey & Company, Chicago, IL
Sponsor: Communications, Networking, Signal & Image Processing
Time: 1:00 PM
Location: Fu Room, POTR 234
Contact Name: Professor Charles Bouman
Contact Phone: 765-494-0340
Contact Email: bouman@purdue.edu


Many important business decisions are made based on intuition and perception of the business environment and the competitive dynamics.  Strategies often need to be tested and optimized through trial-and-error in a rather costly manner.  Moreover, many of the day-to-day business decisions that drive overall company performance never get optimized due to a limited fact base on what’s possible and therefore limited management awareness of opportunity.  In this talk, I will discuss how we can bring facts and science to businesses to enable better decision-making and significantly improve company performance.  Examples span across business strategy, marketing and sales, pricing, purchasing, and frontline operations.  I will also highlight some of the typical barriers that prevent many businesses from successfully employing these tools today.  Finally, we will look forward to the next horizon of data-driven analyses and the necessity of proprietary tools and data.




Dr. Tom Frese received his Ph.D. in Electrical and Computer Engineering from Purdue University, West Lafayette, IN.  He is currently a partner with McKinsey & Company in Chicago, where since 2001 he has focused on helping clients in the transportation industry and other industries to improve their performance.