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According to the Smith School of Business, 41% of business leaders reported that they rely too much on intuition (also known as the infamous "gut feel") and not enough on data.
And while business leaders relying on experience or their personal feelings about the future — oftentimes to the contrary of their analysts, data, or reporting — may sound counterproductive in today's data-driven society, it isn't as bad as it seems. After all – can you really ignore say, 20 years' experience in an industry? What about that experimental product that took off unexpectedly in the market last year? But, on the other hand, what does the data at your fingertips say? What if sales are, without a doubt, trending down year over year and you just refuse to accept it?
The answer to the dilemma is striking a balance between these two approaches and realizing how they can complement versus counteract each other. If this sounds impossible, have no fear: we do it all the time at Optimax, and you can too. Watch Optimax's very own David Avery describe real uses cases of applying this balance during his time at leading BI company, Qlik.
Originally posted on qlik.com/blog
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