Decision analytics is starting to become table stakes in the race to improve performance and embrace the best practices required by the ISO 55000 asset management standard. In fact, an MIT Sloan Management Review survey of over 2,000 professionals and over 30 executives from 100+ countries and 25 industries, reported:
“Fully 87% of managers believe their organizations need to step up their use of analytics to make better decisions.”
But how can businesses ensure they will be successful in their adoption of decision analytics and use their data to continually improve performance and defend their recommendations?
In this article, Copperleaf CEO Judi Hess describes how decision analytics can help organizations move from expert opinion and intuition-based decision making to evidence-based, risk-informed decision making—and concludes with several recommendations for success.
This feature article appeared in the CEO Insight column of the May 2016 issue of CIO Review magazine. Access the full magazine on the CIO Review website here.