What you need more than data.
What drives making the best decision? Data alone? Instinct? Select fragments of knowledge collected into quasi-clear pictures? A dartboard?
We convince ourselves that logic and data analysis shape our perceptions and decisions. We have reams of data — millions of data points that each measure something “important” within our organization. We have multiple Big Data Analytics tools at our disposal — with more vendors knocking on the door every day. With that kind of infrastructure, you might believe that we’re making better decisions than ever. And yet, layoffs at tech giants continue in large numbers — nearly 330,000 layoffs predicted in 2016 alone. But here’s the question: If we were truly making better decisions, wouldn’t the big companies that have access to all the data and all the technology be growing, not shrinking?
Therefore, either data isn’t driving our decisions or data is a bad way to drive our decisions. Given the state of the industry today, we argue that the answer is both.