Peter Drucker famously analyzed unpredictable social, political, and economic changes to the business landscape in The Age of Discontinuity, identifying situations where businesses must adapt immediately to mitigate losses or take advantage of opportunities. The widespread, unforeseen, and swift effects of the coronavirus pandemic have shown that businesses must be more prepared and agile than […]
Data-Driven Decision Making in Recessions
Lately, every time you turn on the news, you hear the word “unprecedented.” The spread of the Covid pandemic is playing out at a speed and intensity not seen since the Spanish flu of 1918; the joblessness rate in America has risen to a level not seen since the Great Depression. Again and again, you […]
What You Need To Know About Data Driven Decision Making
Gone are the days when company executives would base their decisions on intuition or refer to past decisions to make sound decisions. Objective decision making in a company depends on using credible sources of information. Data is crucial in making strategic decisions and should be every organization’s goal. Biased decision making can be costly, misleading, […]
Why all your decisions need to be supported by data
Every day, organization leaders are tasked with the responsibility of making critical decisions to ensure the continued success of their companies. As such, the decisions made must be consistently accurate and timely. Otherwise, the organization can miss out on opportunities and lose ground to competitors. However, this has been a challenge for most companies as […]
How Much Does Data Impact Your Daily Life?
Data analytics is an ominous word that implies complex algorithms and modeling in order to make evidence-based decisions. It sounds like a mixture of high-order mathematics and statistical reasoning that escapes the layman’s repertoire. It’s complicated! However, most average people rely on support from data that is collected from them every day. How much does […]
Why Every Organization Needs a Pandemic Response Policy
A strategy is one of the key elements of organizational success. Companies that have strategic plans and actively work to achieve them are 12 % more profitable. By developing strategies, organizations can create a clear and shared vision of what they hope to achieve and identify the necessary steps to take. It also enables them […]
