When you think about it, the human brain is nothing more than an extremely complicated computer – a computer that makes its decisions based on whatever data or information can be retrieved on a given subject. However, unlike a computer, human brains are susceptible to mistakes – what we call ‘human error’ – as well as lapses in concentration. We are even prone to allowing such uniquely human factors as ‘emotion’, ‘prejudice’ and ‘bias’ to influence our decisions, whether we’re conscious of them or not. We are imperfect decision makers, we have to accept that fact, but really, what difference does it make?
Could your business suffer from inaccurate data processing?
The difficulty is that management is all about decision making. The CEO of a company or its board of directors will determine the direction that a company should take, will make choices on who to hire, who to fire, which markets to enter, which to withdraw from and how the business should operate from top to bottom. Someone needs to make those decisions – that much is unavoidable – but if a fallible human being is placed in such a huge position of responsibility, aren’t they more or less at the mercy of whatever information they’re being fed?
Now more than ever, the pressure is on the world’s businesses to get their decisions spot-on. A correct call can ‘make’ a company while a blunder can just as easily break it, and those in charge have to make these boom or bust decisions in extremely stringent time-frames. Data analytics has been helping some of the world’s top companies to do just that, allowing businessmen and women to combine their entrepreneurial nous and decision-making skills with infallible information and inarguable statistics to produce a more informed decision making process than ever before. This way, the probability of a costly error is drastically reduced and the onus is taken off of individuals in high-pressure management positions to make calls based on insufficient factual backgrounds.
Vital to have the right information
In order for business analytics to be successful, you need your statistical data to be accurate and error-free; otherwise, you’ve simply gone back to making decisions in the dark once more. If you’re looking to improve the working processes and decisional success rate of your business, you could benefit from our corporate and retail business insight services. We provide flexible, infallible data capture services and top-notch analytics to guarantee that our clients retrieve the information they desire, so why not contact us to arrange a free, no-obligation workshop today?