Brits, Data Analytics and Big Decision-Making

By Karen A. Frenkel  |  Posted 10-27-2014 Email

Senior business leaders in the United Kingdom are using their intuition, experience, and the advice and experience of others, as opposed to data and analytics, when it comes to making an important decision, according to a new survey by PwC. Asked to rank the most important factors in their decision-making process, 41 percent of the U.K. executives say their intuition and experience are most important, next comes the experience of others at 31 percent, and only 23 percent say data and analytics, which ranks third. Many U.K. executives, compared to their overseas counterparts, are skeptical of the value of data analysis, but that is changing, according to Yann Bonduelle, PwC consulting data analytics leader. "As data become more pervasive, algorithms become more accurate and visualization more intuitive, business leaders are realizing they can make better decisions through using data and analytics more systematically," he says. The PwC report, "Guts & Gigabytes,"  is based on the responses of 1,100 senior executives worldwide across a range of industries, who work in public, private and family-owned businesses. For the full report, click here.

Karen A. Frenkel writes about technology and innovation and lives in New York City.


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