How Do Decisions Actually Get Made?

Oct 8, 2013

Decisions get made in a lot of different ways. Sometimes we look at what the other guy is doing. Other times we do what worked well in the past. Sometimes we just do what our gut is telling us is the best decision at the time.

I think we can all agree that these aren’t the best ways to make decisions.

Now, making decisions based on data – that’s a good way to go. So good that in 2011, organizations spent $12.2 billion on business intelligence and analytic applications and performance software according to Gartner. Their 2012 CIO survey also showed that analytics and BI are the number one technology priority for CIOs.

But if you are making decisions based on data alone, you are still missing out.

For decades data is what BI has always been about, but we don’t just make decisions based on hard numbers. There are other critical factors that play an important role in making good decisions.

For example, we take in the trusted opinions, ideas, experiences, research and perspectives of others.

We also derive insights from being in a particular place at a particular time, such as when we are on location – on the factory floor, in the client’s office or at the retail store.

Decisions shouldn’t be made on just one factor, but many, including data, people and places.

Thus it is important to have business intelligence and analytic tools that will allow this to happen.

Look for tools that let users have social BI experiences, enabling people to collaborate in formal and informal groups to ask and answer questions together.

Tools should allow for comparative analysis so you can compare and interact with multiple different views and selections of data to spot trends, outliers or differences.

Finally, you should be able to take your data on the road. Your solution needs to be mobile so you and others can make decisions anywhere, anytime whether it be at a desktop, on a laptop or using a smartphone.

Your business intelligence and analytics solution should allow you to make the right decisions in a way that’s natural, quickly and easily.

To learn more about BizXcel’s Business Discovery platform and how it can help you to do these things, go here.