Performance Management professionals around the globe know David Axson. David is an exceptional consultant, public speaker and author. His bestselling book Best Practices in Planning and Performance Management can be found on most bookshelves. In the past year David has gotten a bit quiet. We were able to catch up the other day.
Christoph: In the past, you used to jet around the planet, write books, blog and speak at a ton of conferences. But you have gotten a bit quiet lately. Where have you been hiding the past year?
David Axson: Good question – I joined Accenture in June 2011 and obviously spent a few months getting settled in, however things are getting interesting again with the Accenture engine behind me I am now leading thought leadership efforts for our finance consulting team globally. From a market standpoint I am spending a lot of time communicating with CFO’s of large global companies about the real power of analytics, big data and perhaps most importantly how finance can be a true value generator within the business.
Christoph: In your last book The Management Mythbuster you take a humorous look at popular management practices such as lean management, six sigma and budgeting. Most of them have not lived up to the hype that once surrounded them. Are there new management fads that we need to be aware of today?
David Axson: Well at the moment it seems like the solution to every problem is cloud, big data, analytics and mobility. We need to move beyond the broad topics to get very specifc about how these mega-trends can be applied practically to drive growth and profitability. We need to explain to a CEO, CFO, CMO or general manager what these trends mean to them and their organizations otherwise the hype will remain unfulfilled.
Christoph: Speaking of management fads, how do you feel about Big Data? If we trust the opinion of some industry analysts, big data is likely to create millions of jobs while also fixing a ton of problems. Do I need to worry about big data? Can big data feed my family?
David in action. Professionals love his workshops and keynote speeches
Christoph: Without a doubt, analytics is an important discipline for most companies. Today, have the ability to collect more data than ever before and we also have the tools to put that data to good work. Where do you see the real opportunity for companies today? How can they leverage analytics for their advantage?
David Axson: Focus, focus, focus. I have moved beyond analytics to the notion of applied enterprise performance analytics whereby an analytics strategy looks at the impact analytics can have on specific business decisions such as market selection, product and service portfolio management, customer profitability, operational excellence and the like.
Christoph: Analytics is a relatively young discipline. It did not appear in the curriculums of universities and colleges in the past. What type of new skills do managers need today and what can they do to acquire them?
David Axson: Well analytics embraces a number of disciplines such as statistics, operations research, portfolio management and financial analysis. They key now is how these skillsets get applied through the analytic tools that are now becoming available. Managers need to understand how to translate the potential of analytics into reality. One technique I use is to explain how analytics can be applied to drive positive impact on specific line items in the P&L and balance sheet.
Christoph: When we speak about analytics, we also need to speak about technology. What is the most popular analytics tool today?
David Axson: Not sure it is that simple, it is about applying the right tools for the right job. IT needs to help the business match tools to tasks. It’s a bit like doing a DIY job, you don’t just a hammer for everything.
Christoph: You not only write books, but you also love to read them. What’s on your Kindle today?
David Axson: Just finished The Signal and the Noise by Nate Silver – excellent read about statistics, analytics and forecasting in a real world context.
Christoph: Can we expect another book from you in the future?
David Axson: Funny you should mention that. Talking with my publisher about a new book focused on Enterprise Performance Analytics that takes a very pragmatic approach to applying analytics to decision making. Watch this space!
Christoph: Thanks for the interview, David!
I had the pleasure to work with David for over five years and ended up delivering keynote speeches with him in over 20 countries. You can find out more about David on his Amazon.com page.