Despite the proliferation of data and the constant drive to adopt innovation to achieve competitive differentiation; many businesses continue to make critical business decisions that are a product of intuition and haste rather than fact and rigor.
40% of major decisions are still based on your Manager’s gut feeling
The question as to why companies continue to rely on ‘best-guesses’, despite the availability of advanced business analytics, quantitative models and optimisation methods is confounding. Using data and quantitative analysis to support decision making, removes ambiguity and improves speed and accuracy. Decision making is more likely to be correct and the process has more rigor due to the application of the scientific method.