Publications
Partners
SEVERAL TEXTBOOKS on business and reports over the past few years have confirmed the value of gut feeling when management decisions are made. This can be useful, for example, when staff appointments are made. Nevertheless, there’s evidence that companies not strong in the field of data, technology and analytics are gradually falling behind the 10% of top performers who are well advanced in terms of analytics.
Analytics, according to Wikipedia, is the application of computer technology and statistics to solve problems in business and industry. Optimal and realistic decision-making is based on existing data.
In a recent survey by management consultancy group Accenture among 600 managers of more than 500 large companies in the United States and Britain, it was found many didn’t have very good analytical skills – to their detriment. This includes inadequate and outmoded data and a lack of talent in the field of analytics.
Dave Rich, of the Accenture Analytics Group, pointed out earlier this prevents companies having the benefit of the best information and insight, which means they can’t produce their best results.
The Accenture report showed 43% of the large companies investigated didn’t have professional employees conducting dedicated data analysis. More than 50% indicated they’re set up in such a way it would hamper the efficient use of information and analytic talent. Many senior managers (40%, according to another Accenture survey in 2008) simply rely strongly on their gut feeling, experience and interaction and consultation with others.
Analytics, according to Wikipedia, is the application of computer technology and statistics to solve problems in business and industry. Optimal and realistic decision-making is based on existing data.
In a recent survey by management consultancy group Accenture among 600 managers of more than 500 large companies in the United States and Britain, it was found many didn’t have very good analytical skills – to their detriment. This includes inadequate and outmoded data and a lack of talent in the field of analytics.
Dave Rich, of the Accenture Analytics Group, pointed out earlier this prevents companies having the benefit of the best information and insight, which means they can’t produce their best results.
The Accenture report showed 43% of the large companies investigated didn’t have professional employees conducting dedicated data analysis. More than 50% indicated they’re set up in such a way it would hamper the efficient use of information and analytic talent. Many senior managers (40%, according to another Accenture survey in 2008) simply rely strongly on their gut feeling, experience and interaction and consultation with others.
