Internet Industry Search Engine

Big companies are not becoming data-driven fast enough TechCrunch

https://techcrunch.com/2019/02/06/big-companies-are-not-becoming-data-driven-fast-enough/
See More From: techcrunch.com

Feb 6, 2019 10:33 AM 1+ mon ago

I remember watching MIT professor Andrew McAfee years ago telling stories about the importance of data over gut feeling, whether it was predicting successful wines or making sound business decisions. We have been hearing about big data and data-driven decision making for so long, you would think it has become hardened into our largest organizations by now. As it turns out, new research by NewVantage Partners finds that most large companies are having problems implementing an organization-wide, data-driven strategy.

McAfee was fond of saying that before the data deluge we have today, the way most large organizations made decisions was via the HiPPO -- the highest paid person's opinion. Then he would chide the audience that this was not the proper way to run your business. Data, not gut feelings, even those based on experience, should drive important organizational decisions.

While companies haven't failed to recognize McAfee's advice, the NVP report suggests they are having problems implementing data-driven decision making ...

Read More


Search Builder

(Click to add to search box)
sound business decisions  TechCrunch Big companies  gut feeling  people problem  executive summary  farsighted vision  organizations need  business processes  Randy Bean  Thomas H  Big companies  problem areas  companies shift  Companies need  technology problem  data deluge  gut feelings  companies haven  NVP report  Big Data Delair  Big companies  data Huawei  Companies Surf  drone data  data protection  

**Content contained on this site is provided on an “as is” basis. 4Internet, LLC makes no commitments regarding the content and does not review it, so don't assume that it's been reviewed. What you see here may not be accurate and should not be relied upon. The content does not necessarily represent the views and opinions of 4Internet, LLC. You use this service and everything you see here at your own risk. Content displayed may be subject to copyright. Content is removed on a case by case basis. To request that content be removed, contact us using the following form: Contact Us.