Is The UK Drowning in Data and Decisions?
With software available that can gather data on all aspects of business performance, it’s no surprise that people are feeling overwhelmed and sometimes underqualified to make business decisions. This can often affect overall business performance, regardless of your industry.
Overwhelming Data and What It Means For Businesses
A study, “The Decision Dilemma”, by Oracle and New York Times bestselling author Seth Stephens-Davidowitz, looks at this trend in more detail. The study included more than 14,000 employees and business leaders across seventeen different countries and found that people are feeling overwhelmed by data, causing them to struggle to make business decisions more than ever before.
It was found that among the seventeen countries included in the study, the UK had the highest rate of people affected by this data overload, with 87% admitting to feeling overwhelmed. UK business leaders suffer from decision stress more than any other country, preventing them from working effectively. 76% of them feel most confident when decision-making is delegated to robotic or AI decision-making tools.
Increasing Decisions and Increasing Data
The number of decisions we face each day is rapidly growing both in our personal and professional lives.
The abundance of data available to “help” with
decision-making often makes it more complicated.
The overwhelming volume of information is causing distress among the British population and other countries around the globe. This inconceivable amount of data is causing issues such as;
• Questioning trust
• Complicating the decision-making processes
• Becoming a detriment to the overall quality of life.
The Oracle study’s findings indicated that 83% of individuals in the UK (74% globally) proclaim that the number of decisions they confront on a daily basis has surged tenfold over the past three years.
What is your stance on data and decision-making? Are you feeling overwhelmed? Is your business relying on robots and AI to help make business decisions? Is it making you feel more confident?
Contact us today to give us your views and express opinions.
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