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Big Data Decision Making: Rebalancing Intuition and Data in a Digital World, Part 2

Published by IDC Product code 860210
Published Content info 16 Pages
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Big Data Decision Making: Rebalancing Intuition and Data in a Digital World, Part 2
Published: June 4, 2019 Content info: 16 Pages
Description

This IDC Perspective examines how organizations need to find the right balance between intuition and data in a digital world. The biggest threat corporate management faces is the disruption that is changing the way business is done from industries as diverse as mining, retail, and healthcare. It is no longer a question of if, but when. Analytics has emerged as a wedge that differentiates the winners from the losers. There is no argument that, when it comes to strategic decisions, the more information, the better. Yet 40% of the strategic decisions made by enterprise-size companies are based completely or mostly on intuition. The case for intuition is primarily based on a firm's historical decision-making culture and "why mess with success" attitude. Intuition (or a lucky streak) can steer you in the wrong direction. "Intuition no longer cuts it in a digital economy where your competitors are changing long-held rules of business. The companies that succeed in the future will be able to balance the use of data and intuition," says Mark Schrutt, strategic advisor, Public Sector and Innovation Research.

Table of Contents
Product Code: CA45043319

Executive Snapshot

Situation Overview

  • What You Need to Become a Data-Driven Organization?
    • Base Ingredients to Data-Driven Organizations
      • Disruption and Transformation
      • Tradition/History
      • Leadership and Culture
    • Data-Driven Decision-Making Differentiators
      • Direct Connection with the Customer
      • Looking Forward
      • Balance

Advice for the Technology Buyer

  • Limitations and Challenges
    • The Human Touch
      • Leadership
      • Bias
    • The Future

Learn More

  • Related Research
  • Synopsis
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