In PwC’s report called 10 Minutes
on making big decisions (released in May 2015), it suggests that: “When
it comes to making your most important business decisions, there are a plethora
of factors to consider. Company leaders often rely on gut instinct to guide
them — what we think of as the ‘art’ of strategic decision making. But, what
about the ‘science’ side of the equation: data and analytics?"
Consider that 85% of CEOs maintain that data and analytics
creates value for their organizations. But, where and how are
they realizing that value? One area ripe for the picking is strategic decision
making. According to this report, superior decision making — done with confidence, clarity, and
agility — is only possible through a combination of art and science.
"And most businesses have only begun to achieve this delicate
balance: While 94% of respondents in PwC's Global Data & Analytics Survey
2014: Big Decisions said that senior management believe they are prepared to
make their next big decision, just 38% relied on data
and analytics to do so.”
