Gut & gigabytes: Capitalising on the art & science in decision making
Dan DiFilippo and Paul Blase
Economist Intelligence Unit report sponsored by PwC
Data and analytics have made deep inroads on business. There isn’t a decision being made in boardrooms today that hasn’t been shaped at some stage by the data.
Yet there remains a fundamental skepticism about the practical use of data to drive the business. The explosion of data, new analytics techniques and derivative business models are confounding the issue: Are we working with the wrong data? Are we thinking the right way about using it to compete?
Confronting these challenges matters. Big decisions have big impact on future profitability, with nearly 1 in 3 executives valuing those decisions at least at $1 billion. And breakthroughs are coming to those who can act on the opportunities our connected world provides. Who would have guessed that a driverless car would process all the tiny decisions needed to navigate traffic, apparently better than we can.