Organisations now have a deluge of information available at their fingertips, including customer information, employee and customer demographics, sales volumes, and performance and KPI’s results.
With this data we have all the makings of solid fact based decisions with a high likelihood of making the right decision – right? We must be careful we do not fall into a state of “Paralysis by Analysis” with all the data we have.
We must never underestimate the value and importance of people and our leaders.
Where the data can assist us in better predicting trends and forecasting better figures, data is just that, data. It does not take into account human factors or actions and behaviours of your people or customers, nor does it consider competitor or environmental issues.
Where it is important to take into account all available data, we must ensure that we achieve the balance between pure data driven strategy with the added value of the Human Factor – that we all commonly know as “Gut Feel”.