Are In­dian CXOs Ready to Take Big De­ci­sions Based on Ad­vanced An­a­lyt­ics?

Big de­ci­sions are get­ting in­creas­ingly com­plex for or­ga­ni­za­tions. Are or­ga­ni­za­tions us­ing data or are they mostly re­ly­ing on their ex­pe­ri­ence for tak­ing th­ese big de­ci­sions?

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CEO of a re­tail store wants to open a store in a par­tic­u­lar lo­ca­tion. Is this big de­ci­sion taken on the ba­sis of gut feel and “ex­pe­ri­ence” or there is ad­vanced an­a­lyt­ics around con­sumer pro­file, com­pet­i­tive land­scape, eco­nomic out­look which needs to be per­formed for ob­jec­tively “eval­u­at­ing” the at­trac­tive­ness of the store lo­ca­tion. More­over, is there a con­sis­tency of ap­proach in open­ing not just the first store but also the next 50 stores? If we take the com­plex­ity of the de­ci­sion mak­ing to the next level, is there a feed­back loop of his­tor­i­cally “per­form­ing” ver­sus “non-per­form­ing stores” which can be an in­put to the ef­fec­tive­ness of the de­ci­sion mak­ing process. 62 www.dqin­dia.com

Big De­ci­sions’ are get­ting in­creas­ingly com­plex for or­ga­ni­za­tions. Are or­ga­ni­za­tions us­ing data or are they mostly re­ly­ing on their ex­pe­ri­ence for tak­ing th­ese big de­ci­sions? More im­por­tantly, even if CXOs are tak­ing data-driven de­ci­sions, are they us­ing ad­vanced an­a­lyt­ics for get­ting more con­fi­dent about the de­ci­sion mak­ing process. How does In­dian or­ga­ni­za­tions’ cost against their global coun­ter­parts?

As per PwC’s Data and An­a­lyt­ics Sur­vey (2016) in­volv­ing C-suite lead­ers in In­dia, nearly 98% of the re­spon­dents were found to be­lieve that their or­ga­ni­za­tions were ei­ther highly (61%) or ei­ther some­what (37%) data-

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