What role does data play in your decision making?
05 January 2016
Since the beginning of time, mankind has captured and analysed data. And as processes have become more automated, devices more connected and increased technological capacity enables greater processing ability at ever lower costs, data and the associated analytics is now available to us in unprecedented volumes.
One effect of this is that at all levels in an organisation, managers and leaders have an ever increasing wealth of analytics available to inform the decisions that they need to make. But how are they harnessing this ever growing ability and translating it into valuable and actionable decisions.
Last year, PwC and the Economist Intelligence Unit, wrote a report called Gut and Gigabytes which found that experience and intuition are the main inputs into the decision making process for big, high value, strategic decisions. Data and analysis was only the third most important input on the list.
But as I read the continual flow of news articles about analytics, big data and artificial intelligence (AI), I think that we are agreed that this will change. The question is not if; it is when and how is this adoption of new technologies manifesting itself in mainstream corporate decision making.
So this year we have evolved the survey to explore how decision making is changing, particularly at the boundaries of automation and human judgement. We would like to better understand how executives are using data and analytics to make better and faster decisions.
And we have based the survey approach on the innovative SenseMaker methodology that uses a combination of three-way triads and micro-narratives to deliver a deeper level of insight than is achieved in a normal longitudinal survey.
Feedback so far on the survey tells us that it provides a useful framework to reflect on decision making in your organisation. Please take a few moments to complete the survey and see whether it gets you thinking!
You can check back in a few months when we will be able to share the results.
This blog post was originally published on the world in beta.
If you would like to discuss these issues, or the impact of emerging technology or data and analytics on your industry, then contact our Data & Analytics team.