The goal of predictive analytics is to combine past and current data to obtain actionable insights. Data-driven decision making has been proven time and time again as the best way ahead for any business, regardless of the sector. We wanted to know how ready the nation’s largest Financial, Healthcare, and Retail organizations are for an analytics-dominated future. We surveyed 50 of the Nation’s industry leaders to uncover where their data science capabilities lie.
While it may seem obvious that the quality of business decisions should be based on quantitative analysis to inform the decision, we found that only 18% of top executives surveyed always rely on rigorous statistical analysis.
A company acting on the low end of the reliability scale may be prone to inefficient deployment of labor and funding resources, in addition to missing crucial insights on the performance of business programs. On the high reliability end of the scale, companies utilizing tools such as a code repository and standardized reports ensure a higher percentage of well-informed decisions at a faster rate. This can lead to better quality insights, and potentially, more profitable outcomes.
Fulcrum Impact brings speed and standardization to data gathering and analysis to measure the results of business decisions, as well as accurately reporting key variables that determine success. Click here to learn more about how Fulcrum Impact can enable your team to effectively generate faster insights for smarter decision making or to inquire about Fulcrum consultants assisting with your data science needs.