Data pros make better business decisions

by Darinia Khongwir    Jun 28, 2013

Data Management

With many C-suite executives, the central issue is how to use data to find the proverbial needles in the haystack—uncovering the valuable insights that no one else had spotted.

Only a small cluster of these executives professed to have been highly effective at generating insight from data. Overall, those that are highly effective at garnering insights are nearly eight times as likely to have a well-defined data management strategy in place.

According to the Wipro Insights published recently, executives that have the ability to gain insight into data are four times as likely to have changed the way they tackle strategic decisions, as a result of the data they have, despite most other attributes of their strategic decision-making process being the same. They can almost universally, provide their senior executives with new data and information to support their roles and decisions. They are 12 times more likely to consider their strategic planning and decision-making to be data-driven.

Most often, organisations put their CEO in charge on data-related initiatives within the business, ahead of the CIO, which is the stock answer for nearly all other sets of respondents, including the high-growth companies outlined above.