Strategic Decision Making in the Era of Abundant Data
In this month’s Hidden Value blog series we will dive deep on how proactive CEOs and their Private Equity sponsors are effectively using data to identify opportunities for growth and drive operational improvements. We will start by exploring the challenge of strategic decision making in the era of abundant data.
Leave it to an old time Scotsman to lay down some business wisdom over a century ago that still rings loudly today:
“[He] uses statistics as a drunken man uses lamp-posts – for support rather than for illumination.”
– Andrew Lang, Scottish poet and novelist, 1910
Unfortunately, many modern business executives do just that, using data to support recommended actions rather than identifying insightful actions from the data.