Tremendous headline over on CIO right now: C-Level Execs Value Data, Have No Idea What To Do With It. This could be an earlier leader on the nerd/wonk front for best headline of the year, because it is unflinchingly and utterly true. You can read the whole article at the link, and it’s a good one, but let me pull out probably the most stunning contextual paragraph:
But while these executives recognize the value, 96 percent say that untapped benefits remain on the table. In fact, 85 percent say they face challenges implementing the correct solutions to accurately analyze and interpret their existing data and 75 percent say they find it difficult to make decisions around data and analytics. Many (40 percent) say they are wrestling with integrating data technology into their existing systems and business models.
Wrap your head around that; 3/4 of those polled are saying they find it difficult to make decisions around data and analytics. Out of a room of 100 execs, only 25 are comfortable using existing data trends and patterns to make decisions. Are the other 75 using their gut, which is probably 57-65 years old and has never heard of Snapchat or Uber? That doesn’t seem like the best model either.