How can analysis tools help the finance or accounting arms of a company more so than operations managers?
I would not agree with my coworker’s statement. In my opinion, choosing the right analysis tool is only one side of the coin. It is equally important to use that tool effectively or in other words, correctly interpret and apply the result of the analysis as well. The right analysis tool will be of no use if the inexperienced manager will not be able to correctly interpret and apply the results of the analysis (Wilson, 1993). Tools require two things to work properly: good data and good interpretation of the results (Tague, 2005). Without these two, the tool is worthless. Consider an excellent hammer cannot produce excellent results without an excellent design (data) or excellent workmanship (interpretation). So, excellent tools can make a good manager better or a poor manager worse, depending on the two points mentioned above. For example, a good manager can tell if the output of a tool is based on good or bad data. An inexperienced manager would not know. But assuming we can be sure w
