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Data-driven decision-making means to put actions based on real metrics and analytics derived from real-world data. In contrast to opinionated, anecdote-driven decision-making, data-driven decision-making is superior since it is based on facts rather than opinions. Numbers and facts represent reality, whereas opinion is highly subjective and susceptible to bias. Furthermore, with the advent of the […]
When implementing a Performance Management System (PMS) based on Key Performance Indicators (KPIs), the organization needs to create a favorable context to plan, organize, coordinate, communicate, and control performance. Such endeavor implies multiple initiatives, resources, and most of all, employee engagement. However, challenges are inevitable. These challenges often arise from the mechanisms and relations […]
Gone are the days when analyzing and visualizing data to get information was a job that was limited to the IT and business intelligence (BI) divisions. Gone also are the days when the sole possession of knowledge, skills, and tools for data processing was in the hands of the “data guy.” Data is becoming more […]
You’ve probably heard tech buzzwords like “data-driven decision making”, “advanced analytics”, “artificial intelligence (AI)”, and so on. The similarity between those terms is that they all require data. There is a famous quote in the computer science field — “garbage in, garbage out” — and it is a wonderful example of how poor data leads […]
“The world’s most valuable resource is no longer oil, but data.” That statement from The Economist in 2017 cannot be overstated. Businesses in all shapes and sizes must realize that adapting to an already data-driven world is the only way to survive, connect, and thrive. Artificial Intelligence (AI) was introduced in the 1950s by a […]
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