A Proven Method
The use of predictive simulation in the creation of business cases represents an efficient and cost effective method for driving change, whether it is based on incremental steps or large scale transformation.
Collaboration and Consensus
It can be challenging to reach consensus on which direction a project should take. Predictive simulation facilitates access to robust insights, which help to foster collaboration and achieve consensus amongst teams. Through removing subjectivity and delivering data-led facts on process change, it enables organisations to implement the right plan, whether it is incremental change such as a new production line, or large scale business transformation.
Through using these insights to feed quantitative, detailed business cases, executives can garner buy-in and confidence from all stakeholders, demonstrate credibility to investors and move forward with plans quickly and confidently.
Expediting Business Transformation
More often than not, business cases are created based on outdated information, silos of data or one individual’s ideas on how an issue should be approached. Of course experience has an important role to play, but in isolation, this approach carries a high level of risk. Not only does it rely on the subjective experience and views of one person, but it fails to capitalise on valuable insights residing within the business.
Predictive simulation supports planning for large scale transformation through enabling business cases to be approved quickly with acceptance from all those involved. Without this acceptance, poor decisions can be made and deadlines missed, risking the derailment of the entire project.
One Version of the Truth
Predictive simulation also supports successful business transformation through expediting the culture change which is intrinsic to success. New ways of working and new processes inevitably introduce a degree of reticence. Through providing confidence and clarity, predictive simulation makes it easier to overcome objections to engage, excite and secure buy-in from those involved.