TECH BUYER May 2019 - IDC Perspective - Doc # CA43803819
Big Data Decision Making: Rebalancing Intuition and Data in a Digital World, Part 1
This IDC Perspective focuses on the current state of decision making and the pressures organizations are under to move toward more data-driven decision making, the key factor being digital disruption. With retrospect, you can get an understanding of where decision making is heading. Historical data has been the mainstay in forecasting and decision making for centuries. But companies want to and need to do more. The stakes are too high. Businesses are using data to be much more predictive and much more accurate in their decision making. They also see encouraging returns, with best-in-class organizations driving improved productivity and revenue opportunities resulting in an ROI of 50%+ on their data-driven decisions.
"Data will reshape decision making, frequently automating many tactical processes such as supply chain and customer acquisition, and constantly rebalancing the optimal use of intuition, judgement, and experience," says Mark Schrutt, strategic advisor, Innovation and Public Sector Research, IDC Canada.