DATA-DRIVEN DECISION MAKING PART 3 ORACLE

Data Driven Decision Making: Oracle
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Institutional Affiliation
Abstract
It is advisable that business organizations involve customer feedback when making important decisions. If customers are not involved in the process, the company might miss some essential aspects which might affect the effectiveness of the decisions made. Oracle Corporations have been excluding its customers in the decision making. This has caused the company to lose customers to competitors such as Google and Amazon. Over the past six years, Oracle Corporation has experienced the greatest drop in profitability since its inception. The poor financial performance of the company can be associated with customers’ lack of satisfaction. Oracle has not invested in research, and therefore it does not have information on the best products to produce for its customers. It is recommended that it involve customers in the decision making. It will be able to understand the customer needs. Customers will also feel part of the process, and hence their level of satisfaction will be high.
Keywords: Decision making, Customer Satisfaction, Data

Data-Driven Decision Making: Oracle
Decision making is a very important exercise in any organization as it has a direct effect on performance. However, decisions might be less effective if all the relevant parties are not involved in the process (Grant 2018). If some parties are left out, it will mean that certain important factors will not be included and hence the decisions will not be favorable to them.

For instance, Oracle Corporation- a company that deals with the manufacture and sale of software has had a dismal performance over the past six years (Morningstar Financials, 2018a). Its poor performance has been largely because the company does not involve customers in the decision-making process (Novet, 2017). As such, it misses out on an important aspect of the process in that it has no data to direct on what the customers need. Consequently, the company ends up producing goods that do not meet the needs of customers and hence are not satisfactory (Hill 2018). This explains the core reason as to why its revenue has been decreasing in the recent years (Morningstar Financials, 2018b). Customers have been moving to competitor organizations why they can find goods and services that satisfy them.
By taking customers feedback, the company can gather data regarding what customers want, and hence it can produce the same. When making decisions, it is important to be ethical. It increases the effectiveness of the process (Brigham & Ehrhardt, 2013). Oracle needs to involve customers in its decision making to reverse its current trend. It should invest in research whereby it will be collecting data that will guide it on the right products that can be satisfying to its customers (Perry et al. 2014). Before involving customers in research, it will always be important to seek their consent.
References
Brigham, E. & Ehrhardt, M., (2013). Financial management: Theory & practice. Boston, MA: Cengage Learning.
Grant, N. (2018). Oracle Plunges the Most in Six Years. Retrieved from https://www.bloomberg.com/news/articles/2018-03-19/oracle-s-new-licenses-sales-drop-while-revenue-meets-estimates
Hill, R. (2018). Oracle UK’s profits have more than halved. Retrieved from https://www.theregister.co.uk/2018/03/08/oracle_uks_revenues_profits_turnover_down_in_2017/
Novet, J. (2017). Oracle falls despite earnings beat. Retrieved from https://www.cnbc.com/2017/12/14/oracle-earnings-q2-2018.html
Morningstar Financials (2018a). Oracle Corp Income Statement. Retrieved from http://financials.morningstar.com/income-statement/is.html?t=ORCL&region=usa&culture=en-US
Morningstar Financials (2018b). Oracle Corp Financial ratios. Retrieved from http://financials.morningstar.com/ratios/r.html?t=ORCL&region=usa&culture=en-US
Perry, J. L., de Graaf, G., van der Wal, Z., & van Montfort, C. (2014). Returning to our roots: “Good Government” evolves to “Good Governance”. Public Administration Review, 74(1), 27-28.