“Gut instinct” is a leadership trait whose value is regularly praised, but it’s often wrong or based on incomplete information. Now that businesses are gathering more data than ever before on every aspect of their operations, leaders no longer need to go with their gut. They just need to cultivate a data-driven culture.
A recent report by the Aberdeen Group, “The Executive’s Guide to Effective Analytics,” indicates that 44 percent of executives are dissatisfied with the analytic capabilities available to them today, and that they often make critical decisions based on inaccurate or inadequate data. Although perfect information is impossible to obtain, the report suggests that the greatest dissatisfaction of today’s CEO comes from a limited access to data, difficulties in performing analysis and lengthy delays inherent in their analytic systems. – Read More By Gail Dutton