What do Extra-Sensory Perception and Business Analytics have in common? The possibility of bad analysis…
There’s increasing agreement that business intelligence and performance management technology has to go further than “just” data, analysis, and planning, to helping with the intrinsically human process of making decisions.
Today, most corporate decision-making happens in meetings and conference calls, with little support from technology. As a process, it functions, but most of us would be hard-pressed to call it optimized. How can we integrate BI technology with decision-making best practice?
The results of a survey called “In search of clarity: unraveling the complexities of executive decision-making”, conducted by the Economist Intelligence Unit, were announced today. The report concludes that it is “cause for alarm…that executives themselves perceive the quality of decision-making at their company as mixed at best”, and identifies five ingredients of good decision-making. Obviously, supporting good decisions requires a lot more than technology, but I believe BI can help. (more…)