Data-Driven Decision Making

Summary

Making the right decisions is key for leaders and organizations in today’s connected, globalized, and rapidly-changing world. Some of the most complex challenges facing leaders today are related to technology convergence, cyber security, and data. In the Wild West of the Cyber Space where there are few rules or boundaries, new technologies are double-edged swords. A proactive mindset and risk preparedness are essential to develop strong resilience, given the increased uncertainty about the nature, intensity, and duration of future threats. To make good decisions, a leader needs to be able to access relevant data, analyze it, and extract useful insights in a timely way. Knowing how to connect the dots, define a vision, choose the right priorities, and focus on what matters is critical for success. IT and analytical tools tend to be most efficient and convenient to use if they are custom-built for specific applications. Whereas the trend in recent decades has been towards specialization, it is now becoming essential to develop multi-disciplinary knowledge. To make good decisions, a leader must also be good at inter-personal skills and relationships. Human-driven technology is a key to help solve today’s global challenges, but cannot replace the fundamentally human ability to think and act.