Tag: Values Based Leadership



Olin

The Center for Analytics and Business Insights, along with the Bauer Leadership Center, hosted a seminar March 26-27 on values-based/data-driven decision-making. The seminar, which hosted nearly 50 executives from a variety of local data-centered companies—including Wells Fargo and Teradata—was a huge success.

Seethu Seetharaman led the morning session for participants in a March 26-27 workshop on values-based, data-driven decision-making.

Seethu Seetharaman, director of CABI, kicked off the event with a discussion on hypothesis testing.  Seetharaman, W. Patrick McGinnis Professor of Marketing, brought statistics to life with riddles and brain teasers. With a group filled with professionals working with statistics daily, Seetharaman’s brain teasers still expanded their knowledge and truly kept them on their toes. A quick example of a brain teaser to try at home:

“A light flashes red 75% of the time and green 25% of time. You have to predict what the next flash will be. Is it reasonable to use a biased coin weighted to flip toward red 75% of the time to predict the next flash? Or is it more reasonable to just predict red?”

Seethu Seetharaman and Stuart Bunderson teamed up on the March 26-27 workshop on values-based, data-driven decision-making.
Seethu Seetharaman and Stuart Bunderson teamed up on the March 26-27 workshop on values-based, data-driven decision-making.

The answer is actually no. The likelihood of having the coin and the light flash the same color is slim because there are two separate events. The two events will only align 62.5% of the time, so it’s safer to predict red from the get-go with its 75% probability. 

The first afternoon was followed up by Stuart Bunderson, director of the Bauer Leadership Center. Bunderson, George & Carol Bauer Professor of Organizational Ethics & Governance, discussed values-based decision-making, incorporating values and ethics in business, while backing them with statistical evidence.

Bunderson amusingly warned the data-focused audience, “We are now entering the domain of moral philosophy… we answer which outcomes we should be striving to achieve through discussion and mindful reflection, informed by theoretical frameworks.”

Bunderson continued, asking, “What are values?”

Values are beliefs about preferred “end states.” They can be explicit or implicit, but regardless, represent the fundamental building blocks of an individual’s character or organization’s culture.

Values are all about the why of a business: the how represents tactics and execution, the what are objectives and KPIs, while the core why are values and the mission. The why drives the what and the how.

At the end of the session, Seetharaman’s statistics-heavy lecture paired perfectly with Bunderson’s value-based message. The audience collectively resonated with the idea that a business is firmly, at its core, driven by values.

However values must guide decisions made and then must be secondly backed by statistics. You must be able to understand your KPIs while still keeping true to your business’s mission.




“Data can be used for great good to make a significant positive difference in our communities and our lives… but not without some problems.”

– Naveen Pinjani, Sr. Director Big Data Analytics at Daugherty Business Solutions

At the Data for Good conference on October 5, speaker Naveen Pinjani, along with consultant Jonathan Leek, dynamically kicked off a panel on the Vacancy Collaborative. The Vacancy Collaborative’s mission is to address St. Louis’s vacant property issue and perfectly reflects the conference’s core goal: to celebrate the combination of values-based-leadership and analytics.

Leek knew two things before the creation of the Vacancy Collaborative: He was a skilled data analyst and he wanted to help the community. Knowing this and the brutal fact that about 15 percent of all land in St. Louis is vacant, he put his skills to use.

Addressing this issue has been complicated. Leek asked, “How do we address what we can’t understand?” The data problem presented was that there are city employees who are doing the best they can, but aren’t trained in using and analyzing data. Leek recognized that systems are often put in place by those unfamiliar with data best practices. Along with volunteers, Leek set out to use his data skills to tackle the basics—how many vacant properties/lots exist, where they’re located, and what to prioritize.

Over the past year, the Vacancy Collaborative has combined four data sets, cleaned them up, and defined what each set means. They are on their way to incredible impact. The volunteer aspect of the project comes with its pros and cons; Leek explained its lack of bureaucracy is great, along with the autocratic decision-making process, but there’s a lack of input from domain experts and limited tools, resources and time.

Even with the negatives, the Vacancy Collaborative was able to convince Cindy Riordan, CIO of the city of St. Louis. Riodan said, “The vacancy data lit a spark with our [the City of St. Louis] staff.”

The vacancy issue affects the entire city from crime rates, to public health, to the city budget. The Vacancy Collaborative is now working on refining its web portal and even expanding to new data sets unrelated to vacancy. If you’re interested in reading more, check out STLVacancy.com.

Sarah Podolsky, BSBA ’19, wrote this on behalf of the Bauer Leadership Center. Pictured above: Jonathan Leek, a consultant with Daugherty Business Solutions and volunteer with the Vacancy Project, presents to the Data for Good audience.