7 steps to problem solving
1. Define the problem
a. Shld be specific
b. Can be measured when answered
c. Can be solved within a timeframe
d. Bounded by value of decision maker
e. Requires definitive actions to be taken
2. Disaggregate the issue
a. Disaggregate the defined problems into diff. components or issues
b. Employ logic trees to disassemble to problems into parts for analysis
3. Prioritize the issue
a. Which branch has the highest impact on the problem
b. Prune the logic tree by removing branches highlighting less impact on the
problems
c. Prioritizing analyses finds critical path to answer the problem efficiently while
making the best use of team time and resources
4. Build a work plan and timetable
a. Link each part to a plan
b. Assigns team members to analytics tasks
c. Helps avoid biases
5. Conduct critical analysis
a. Start w heuristics to get an order or magnitude understanding of each problem
component and assess the priorities quickly
b. Heuristics
i. Short cuts or rule of thumbs
c. Helps us understand where we do need more work including more complex
analytics techniques such as game theory, regression, monte carlo simulation, or
machine learning
6. Synthesize findings
a. Assemble the findings to test validity and then synthesize in a way that convinces
others you have a good solution
b. Great team processes are critical to the success of this step
7. Prepare a powerful communication
a. Develop a storyline from the conclusions
b. Lead w actions steps or pose a series of questions that motivate actions
CASE
Components
1. Cost of living
2. Salary
3. Distance from home
4. Social life/leisure time
Problem statement
What is the most beneficial job option to take for the 2023 year?
Analysis
1. Cost of living
a. Austin
b. Chandler
c. Charlotte
2. Salary
a. Austin
b. Charlotte
c. Chandler
3. Distance from home
a. Chandler
b. Austin
c. Charlotte
4. Social life
a. Austin
b. Charlotte
c. Chandler
Communication
1. Austin, because it is the highest salary which can cover the high cost of living and also
has the best social life
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