Smarter Decisions: Data Culture

"Because the process of implementing and sustaining a predictive analytics program is inherently complex, a lack of executive support and leadership can hamstring efforts. What's also needed from the top ranks is the endorsement of a corporate culture that values creative thinking, fresh ideas and data-based decision making, said John Lucker, head of the advanced analytics and modeling practice at Deloitte Consulting LLP. 'In such a culture, predictive analytics projects, and a lot of other positive things, flourish.'"

"On the other hand, an unwillingness on the part of business executives to trust or credit predictive analytics findings can have a big impact on the bottom line."

"Overcoming such resistance -- to change and to taking action based on where the data leads -- is a must for organizations determined to maximize the business value of their predictive analytics programs, according to Lucker. As a result, that needs to be a top priority of program managers. 'We're imperfect human beings with our egos and so forth,' he said. 'But significant progress, in terms of better efficiency and smarter decisions, will come to fruition if we simply insist on making decisions based on facts.'"

#Executives   #DecisionMaking   #PredictiveAnalytics   #CorporateCulture   #AnticipateChange  
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