Executives are relying more on experience and advice than on data to make critical choices. But data-driven organizations report improved decision-making, according to a new study by the Economist Intelligence Unit sponsored by consulting form PwC. Executives’ intuition or experience and the advice and experience of others in their organization were the decision-making modes of choice for 58 percent of the executives, the report says.
A huge majority of the 1,135 executives worldwide (94 percent) surveyed in May 2014 for the report say management of their company is prepared to make significant decisions about the strategic direction of their business. But barely one-third relied primarily on data and analytics when they made their last big decision.
Register or login for access to this item and much more
All Information Management content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access