07/06/2023

How to Avoid Data Paralysis

Don't confuse metrics with strategy

Can a robot do a CEO’s job better than a human being?

In 2023, it’s a question you can actually ask with a straight face. One reason for that is all the chatter about AI. Another reason is that CEOs seem to be asking the question of themselves. According to a survey on executive decision-making released last month by Oracle, 70 percent of business leaders say that they’re drowning in so much data that they “would prefer for it all to just go away and to have a robot make their decisions.” 

It may be that we’re not too far from trusting algorithms to handle tough calls exclusively. But what the Oracle report, The Decision Dilemma, mainly suggests is that executives have hit a wall when it comes to being “data-driven.” On the one hand, they give a lot of credence to numbers: Nearly all of the 14,000 employees and business leaders surveyed said “having the right type of decision intelligence can make or break the success of an organization.” But on the other, they lack confidence that they possess the right intelligence. More than a third say they don’t know what sources to trust, and 70 percent have punted on a decision because “the data was overwhelming.”

Please select this link to read the complete article from Associations Now,