{"id":2756,"date":"2018-12-28T12:01:16","date_gmt":"2018-12-28T20:01:16","guid":{"rendered":"http:\/\/blog.knowledgecity.com\/?p=2756"},"modified":"2024-04-26T13:46:03","modified_gmt":"2024-04-26T20:46:03","slug":"grid-analysis-easy-way-make-tough-business-decisions","status":"publish","type":"post","link":"https:\/\/www.knowledgecity.com\/blog\/grid-analysis-easy-way-make-tough-business-decisions\/","title":{"rendered":"7 Steps to Use Grid Analysis for Tough Business Decisions"},"content":{"rendered":"\r\n<p>Consumers can make decisions in <a href=\"http:\/\/journal.sjdm.org\/11\/10420a\/jdm10420a.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">one-third of a second<\/a>. Granted, decision making takes a little bit longer when we are at a \u201cfork in the road\u201d moment of our lives. It is hard enough in our <em>personal <\/em>lives, but when it comes to business decisions, that fork usually has at least six prongs. When you are faced with anything but a choice between two options, that standard checklist falls short. Grid analysis is an effective way to quickly decide between several options when many factors need to be considered. In making your next big decision, consider using grid analysis to help you bear the load.<br \/><br \/><img loading=\"lazy\" class=\"alignnone wp-image-23435 size-full\" src=\"https:\/\/www.knowledgecity.com\/blog\/wp-content\/uploads\/2018\/12\/7-Steps-to-Use-Grid-Analysis-for-Tough-Business-Decisions.jpg\" alt=\"Focused presenter explaining strategies on a whiteboard to an engaged audience.\" width=\"1200\" height=\"800\" srcset=\"https:\/\/www.knowledgecity.com\/blog\/wp-content\/uploads\/2018\/12\/7-Steps-to-Use-Grid-Analysis-for-Tough-Business-Decisions.jpg 1200w, https:\/\/www.knowledgecity.com\/blog\/wp-content\/uploads\/2018\/12\/7-Steps-to-Use-Grid-Analysis-for-Tough-Business-Decisions-300x200.jpg 300w, https:\/\/www.knowledgecity.com\/blog\/wp-content\/uploads\/2018\/12\/7-Steps-to-Use-Grid-Analysis-for-Tough-Business-Decisions-1024x683.jpg 1024w, https:\/\/www.knowledgecity.com\/blog\/wp-content\/uploads\/2018\/12\/7-Steps-to-Use-Grid-Analysis-for-Tough-Business-Decisions-768x512.jpg 768w, https:\/\/www.knowledgecity.com\/blog\/wp-content\/uploads\/2018\/12\/7-Steps-to-Use-Grid-Analysis-for-Tough-Business-Decisions-900x600.jpg 900w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/p>\r\n\r\n\r\n\r\n\r\n\r\n<h3><strong>Using Grid Analysis for Business Decisions<\/strong><\/h3>\r\n\r\n\r\n\r\n<p>Grid analysis can help you quickly answer complex questions like:<\/p>\r\n\r\n\r\n\r\n<ul>\r\n<li>Who should I partner with?<\/li>\r\n<li>Which distributor is best for my business?<\/li>\r\n<li>How can I rate and choose a supplier?<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<p>To set up grid analysis for your question, follow these simple steps:<\/p>\r\n\r\n\r\n\r\n<h3><strong>7 Steps to Successful Grid Analysis<\/strong><\/h3>\r\n\r\n\r\n\r\n<p>1. Make a list of the different options you have and important deciding factors that need to be considered. Factors may include cost, size, distance, customer service, reliability, availability, or anything else you determine to be valuable in your decision-making process.<\/p>\r\n\r\n\r\n\r\n<p>2. Create a table for your question, either in Excel, or using a pencil and paper. Use the first two rows in the upper left hand corner for \u201cfactors\u201d and \u201cweights\u201d and the top right column should be labeled \u201ctotal\u201d to keep everything organized. Here is an example:<\/p>\r\n\r\n\r\n\r\n<p>3. Now list your <strong>options<\/strong> in the rows, and your <strong>deciding factor<\/strong>s in the columns. \u00a0This example will use the question \u201c<em>Which supplier is right for my business<\/em>?\u201d<\/p>\r\n\r\n\r\n\r\n<p>4. Now let\u2019s work out the relative value or \u201cweight\u201d each of your factors has. How important is each factor to your decision? This can be done on any scale you prefer. The example uses a 1-10 scale; 1 being least important, 10 being most important.<\/p>\r\n\r\n\r\n\r\n<div class=\"wp-block-image\">\r\n<figure class=\"aligncenter\"><a href=\"http:\/\/blog.knowledgecity.com\/wp-content\/uploads\/2016\/05\/grid-4.png\" rel=\"attachment wp-att-2764\"><img loading=\"lazy\" width=\"1024\" height=\"337\" class=\"wp-image-2764\" src=\"http:\/\/blog.knowledgecity.com\/wp-content\/uploads\/2016\/05\/grid-4-1024x337.png\" alt=\"grid 4\" srcset=\"https:\/\/www.knowledgecity.com\/blog\/wp-content\/uploads\/2016\/05\/grid-4-1024x337.png 1024w, https:\/\/www.knowledgecity.com\/blog\/wp-content\/uploads\/2016\/05\/grid-4-600x197.png 600w, https:\/\/www.knowledgecity.com\/blog\/wp-content\/uploads\/2016\/05\/grid-4-300x99.png 300w, https:\/\/www.knowledgecity.com\/blog\/wp-content\/uploads\/2016\/05\/grid-4-768x252.png 768w, https:\/\/www.knowledgecity.com\/blog\/wp-content\/uploads\/2016\/05\/grid-4.png 1150w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\r\n<\/div>\r\n\r\n\r\n\r\n<p>5. Once you have written these values, place a number in each box for how your options rank under each factor. Now you have a table like this:<\/p>\r\n\r\n\r\n\r\n<div class=\"wp-block-image\">\r\n<figure class=\"aligncenter\"><a href=\"http:\/\/blog.knowledgecity.com\/wp-content\/uploads\/2016\/05\/Grid-5.png\" rel=\"attachment wp-att-2765\"><img loading=\"lazy\" width=\"986\" height=\"395\" class=\"wp-image-2765\" src=\"http:\/\/blog.knowledgecity.com\/wp-content\/uploads\/2016\/05\/Grid-5.png\" alt=\"Grid 5\" srcset=\"https:\/\/www.knowledgecity.com\/blog\/wp-content\/uploads\/2016\/05\/Grid-5.png 986w, https:\/\/www.knowledgecity.com\/blog\/wp-content\/uploads\/2016\/05\/Grid-5-600x240.png 600w, https:\/\/www.knowledgecity.com\/blog\/wp-content\/uploads\/2016\/05\/Grid-5-300x120.png 300w, https:\/\/www.knowledgecity.com\/blog\/wp-content\/uploads\/2016\/05\/Grid-5-768x308.png 768w\" sizes=\"(max-width: 986px) 100vw, 986px\" \/><\/a><\/figure>\r\n<\/div>\r\n\r\n\r\n\r\n<p>6. To reach your totals, first work through your table and multiply each option\u2019s<strong> factor<\/strong> by its relative <strong>weight<\/strong>.\u00a0 This will give you <strong>weighted scores<\/strong> for each option, highlighted here in blue.<\/p>\r\n\r\n\r\n\r\n<div class=\"wp-block-image\">\r\n<figure class=\"aligncenter\"><a href=\"http:\/\/blog.knowledgecity.com\/wp-content\/uploads\/2016\/05\/Grid-6.png\" rel=\"attachment wp-att-2766\"><img loading=\"lazy\" width=\"1037\" height=\"425\" class=\"wp-image-2766\" src=\"http:\/\/blog.knowledgecity.com\/wp-content\/uploads\/2016\/05\/Grid-6.png\" alt=\"Grid 6\" srcset=\"https:\/\/www.knowledgecity.com\/blog\/wp-content\/uploads\/2016\/05\/Grid-6.png 1037w, https:\/\/www.knowledgecity.com\/blog\/wp-content\/uploads\/2016\/05\/Grid-6-600x246.png 600w, https:\/\/www.knowledgecity.com\/blog\/wp-content\/uploads\/2016\/05\/Grid-6-300x123.png 300w, https:\/\/www.knowledgecity.com\/blog\/wp-content\/uploads\/2016\/05\/Grid-6-768x315.png 768w, https:\/\/www.knowledgecity.com\/blog\/wp-content\/uploads\/2016\/05\/Grid-6-1024x420.png 1024w\" sizes=\"(max-width: 1037px) 100vw, 1037px\" \/><\/a><\/figure>\r\n<\/div>\r\n\r\n\r\n\r\n<p><br \/>7. Now simply <strong>add these weighted scores<\/strong> across their rows and place the sum in the \u201ctotal\u201d column. The one with the highest score is your winner! Your final table should look something like this:<\/p>\r\n\r\n\r\n\r\n<div class=\"wp-block-image\">\r\n<figure class=\"aligncenter\"><a href=\"http:\/\/blog.knowledgecity.com\/wp-content\/uploads\/2016\/05\/grid-7.png\" rel=\"attachment wp-att-2767\"><img loading=\"lazy\" width=\"983\" height=\"421\" class=\"wp-image-2767\" src=\"http:\/\/blog.knowledgecity.com\/wp-content\/uploads\/2016\/05\/grid-7.png\" alt=\"grid 7\" srcset=\"https:\/\/www.knowledgecity.com\/blog\/wp-content\/uploads\/2016\/05\/grid-7.png 983w, https:\/\/www.knowledgecity.com\/blog\/wp-content\/uploads\/2016\/05\/grid-7-600x257.png 600w, https:\/\/www.knowledgecity.com\/blog\/wp-content\/uploads\/2016\/05\/grid-7-300x128.png 300w, https:\/\/www.knowledgecity.com\/blog\/wp-content\/uploads\/2016\/05\/grid-7-768x329.png 768w\" sizes=\"(max-width: 983px) 100vw, 983px\" \/><\/a><\/figure>\r\n<\/div>\r\n\r\n\r\n\r\n<p>Grid analysis not only takes into consideration multiple factors, it also takes into account how much you <strong>value<\/strong> those factors, making it a very useful tool for complex decision making. In the example, Supplier B was the winner. Even though they ranked poorly in two of the fields, they scored high where it mattered most.<\/p>\r\n\r\n\r\n\r\n<h2>\u00a0<\/h2>\r\n","protected":false},"excerpt":{"rendered":"<p>Consumers can make decisions in one-third of a second. Granted, decision making takes a little bit longer when we are at a \u201cfork in the road\u201d&#8230;<\/p>\n","protected":false},"author":5,"featured_media":10775,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":""},"categories":[4001,120],"tags":[2631,161,1359,2629,2627,162,108],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Grid Analysis to Make Tough Business Decisions | KnowledgeCity<\/title>\n<meta name=\"description\" content=\"Learn how to streamline complex decisions using grid analysis in 7 actionable steps.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.knowledgecity.com\/blog\/grid-analysis-easy-way-make-tough-business-decisions\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" 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