Michael Sawicz Email & Phone Number

In today’s hypercompetitive business environment, using data and analytics to differentiate products and customer experiences is a prerequisite for success. But despite the obvious need, in most businesses, decision-makers are not using the data they have. They just cherry-pick the data points that help them make their case, and when data points contradict, 90% of decision makers prioritize their gut feel over data. Why is this? Because the human mind simply isn’t wired to achieve decision quality in a natural way and today’s business environment, with compressed decision cycles, more stakeholders and overwhelming and conflicting data, exacerbates the problem. As a result, company’s investments in data & analytics are often wasted - many studies show that less than 50% of decision outcomes are successful! Fortunately, it doesn't have to be that way. Decision skills, processes and tools based on insights can be learned and applied. Insights are vital for quality decisions because they provide information about customers that lead to changes in their behaviour – through their interactions with products, advertising and experiences. Only these behavioural changes lead to accelerated growth (and nothing else). Therefore, organizations must change from being data-aware or data-driven to being market insights driven, now. Evidence shows that market insights driven organizations outperform competitors. Forrester says firms with advanced insights driven business capabilities are 5.5 times more likely to grow annual revenue by 20% or more than firms that are still at the beginner level. Greenbook shows 80% of innovation success factors are market insights driven. Many sources confirm that insights driven organizations are the category winners, so organizations need to adapt to this way of decision-making to be competitive. If you’d like an informal chat about best practices to face these challenges, reach out on LinkedIn or send me an email: msa@marketlogicsoftware.

Listed skills include Customer Insight, Analytics, Segmentation, Market Research, and 24 others.

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  Georgia Institute Of Technology

  Economics