Improved analytics tools should mean we're able to make better-informed decisions backed by data. The problem can be that most people who currently run companies didn't get into that position by carefully examining every relevant piece of information.
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During a panel session on skills at Gartner's BPM conference in Sydney, Donna Stewart, executive manager claims services for Suncorp, noted that many senior executives had not achieved those roles through rigorous analysis of data:
Typically. data driven-decision making hasn't been something that's very highly valued unless you're the CFO. What's been valued has been the ability to make decisions with scant information: to take risks, think on your feet. That's what many managers have built their reputations on.
Access to large data pools means this won't work as well any more. "What's going to be required is a change to people who can combine being proactive and thinking quickly while taking the data into account. That's a whole different skill set which isn't often seen in organisations at the moment." As we often say, and as the salary figures bear out: analytic skills will hold you in good stead.