The Dire Need for Analytics in Corporate Decision and Strategy.

In this ever competitive world of business, there are bound to be so many uncertainties which could either lead to opportunities or bankruptcies, thus the stakes will continue to be higher for C-level managers to make better-informed decisions with analyzable information. 

There is also no doubt that companies that successfully use the information within their disposal will out-think, outsmart and out-execute their competitors. High-performing enterprises are building their strategies around information-driven insights that generate results from the power of analytics of all kinds, such as segmentation and regression analysis and especially predictive analytics. These companies are proactive, not reactive.

The Chief Executives of companies are human beings that are have not been exempted from making mistakes; but when it comes down to company failures, these are not simply minor misjudgments. In many cases, their errors are enormous miscalculations that can be explained by problems across its leadership as well as a lack of insightful information. 

Despite how decentralized some companies claim to be in their decision-making process, they can be rapidly brought to the brink of failure by executives whose personal qualities create risks rather than mitigate them. To sustain long-term success and maximize wealth, companies need to have people with relevant skills who will buy into the corporate vision and shows the tenacity to answer, “Where do we want to go?” indicating that there is a common goal in sight.

Whenever you see a successful business, someone once made a courageous decision. - Peter Drucker

The next important part is the need for the C-level executives to communicate their strategy to departmental heads and employees alongside empowering them analytical tools to correctly answer, “How will we get there?” This goes to the heart of analytics. Irrespective of their position in the workplace, employees are very likely to make thousands of decisions every day, ranging from pricing, customer targeting, digital marketing and distribution routing. Incrementally better small decisions tend to add up and have a way of contributing more to the financial bottom line impact than the few big decisions made by senior executives.

If you feel that analytics don't play that much role in the survival of a company, it will be nice to read your comments and suggestions. Thanks.