The mantra used to be that decision-making had better be based on accurate data. Data driven decisions for better effectiveness. But the end goal may be to improve productivity, cut costs, prioritise markets, spot potential problems. And to achieve this people have to execute decisions better which means analytics needs embedding in work flows, in enterprise applications. Using smartphones, tablets not just to view dashboards but initiate action, write-back data. Looks like Canada gets that.
Nearly 60% of Canadian businesses are making data analytics a strategic priority, but they can do more to help staff, managers and executives act on analytics insights. According to a new report developed by Forbes Insights in cooperation with EY, 2015 EY/Forbes Insights Data & Analytics Impact Index: Don’t Forget the Human Element, people and culture are critical to unlocking business value from data analytics. Already, 31% of Canadian executives feel that analytics has better prepared their organizations to meet today’s competitive challenges, compared to 20% of their U.S. counterparts and 26% globally. Canadian companies are also more willing to reward employees for using analytics in their work. Forty percent are willing to help employees expand their opportunities for advancement through the use of data analytics on the job, versus 27% of their counterparts in the U.S. and 33% globally.