Decisive Action: How businesses make decisions and how they could do it better

As the tectonic plates underlying our business world shift,
it becomes increasingly important for business leaders to rapidly make robust decisions, all
while minimising risk.
Against this rapidly changing backdrop, it’s no longer enough to use intuition – which
ultimately is rooted in one’s prior experience – as a basis for making decisions. As collecting
data about consumer behaviour becomes easier, decisions can and should incorporate wider
experiences and behaviours. Incorporating data (or simply stated, the experiences of relevant
audiences) into the decision-making process is now vital if companies are to make sense
of entirely new issues, new business opportunities and of course potential threats. This,
however, brings its own difficulties, as the quantity and variety of data available to decisionmakers
is vast, and will only continue to grow.