COMPANIES are increasingly using and investing in data and analytics to make better decisions, research from Accenture has found.
Data from Accenture’s comprehensive global survey, Traits of Truly Agile Businesses, found that two thirds of of UK executives routinely use analytical tools and capabilities to develop corporate decisions, while they are required to make decisions more quickly, implement them more fluidly and react to changes immediately.
According to the findings, nearly all high-growth organisations share some common denominators related to decision making, leadership, and use of technology and analytics. Respondents stated that the number one type of data collected is customer data (78%), followed by financial/economic indicators (74%), industry-related data and competitive intelligence (both 68%).
The research also found that strong-growth companies change their leadership teams faster, prioritise the decisions that are truly strategic, make critical decisions and work hard to speed decision-making and that social media is continuing to have a major impact.