I read with great interest the article on the BBC Business News website entitled “Decision-making is the essence of management”. Harvard Business Review has conducted a survey showing that more businesses are using analytics to deliver tangible improvements to their businesses. Almost 75% of those surveyed said that they are becoming more reliant on hard data to make decisions and that more value than ever is being placed on insight drawn from voice of customer feedback data.
At Feedback Ferret, we have been aware of this trend for some years now. Many of our clients are seeing the huge merits of asking their customers what they think, talking to them about their sentiments, and most importantly, acting on that insight. Companies who have adopted a data-based decision-making culture are reaping the rewards at a time when gaining a competitive edge is more challenging than ever.
The article cites Paul Kent, Vice President of Big Data at SAS (a leading business intelligence and analytics firm), who says it in a nutshell: “Many organisations spent a lot of time debating the ‘what’ because different people had different data. Once everyone has the same version of truth, you can shift to the ‘how’ – and you are able to do more and more, better and better.”
By Piers Alington, Managing Director