Executive Briefings

Big Data Has Made Decision Making Worse, Not Better, Report Says

Across many industries, both business planning and key decision-making are increasingly informed by big data. As pressure mounts to match business operations to the record pace of current, aggressive market innovation, more organizations are looking to base decisions on hard numbers in order to mitigate risk and raise return. But faulty interpretation of data invites error in deriving and applying insights.

Big Data Has Made Decision Making Worse, Not Better, Report Says

These new risks have created opportunities for the CFO to collaborate with both other members of the C-suite and human resources to usher in new ways of working and to obtain a competitive advantage in their markets.

One such risk derives from big data failures from information overload and resulting delays in decision making. The successful strategic use of big data requires two steps: deriving relevant insights and then implementing them to create informed strategies. Both of these steps have spawned problems within organizations today. According to a recent report, 32 percent of 300 C-level executives at large organizations from 16 countries around the world said big data has made things worse, not better, for decision making.

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These new risks have created opportunities for the CFO to collaborate with both other members of the C-suite and human resources to usher in new ways of working and to obtain a competitive advantage in their markets.

One such risk derives from big data failures from information overload and resulting delays in decision making. The successful strategic use of big data requires two steps: deriving relevant insights and then implementing them to create informed strategies. Both of these steps have spawned problems within organizations today. According to a recent report, 32 percent of 300 C-level executives at large organizations from 16 countries around the world said big data has made things worse, not better, for decision making.

Read Full Article

Big Data Has Made Decision Making Worse, Not Better, Report Says