BI Statistic Reveals Companies Making Sub-Optimal Decisions
Is your company “data directed,” one that relies on facts more than gut feelings based on past or current assumptions, a company that develops insights from data and uses those insights to drive actions?
The 2019 Dresner Advisory Services Business Intelligence Market Study included questions to assess how often data plays a role in companies’ decision-making process. Surprisingly, slightly less than half of the respondents (48 percent) report their companies use data all of the time in their decision-making processes.
The benefits of data-driven decisions include providing the rationale behind making changes, preventing leaders from rationalizing suboptimal decisions, assessing multiple solutions to problems and opportunities, aligning stakeholders, and minimizing chances for errors. Data make better informed, and supportable, decisions.
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