Article Summary #2 - Yingshi Zhao - Article#2 Good Data Wont Guarantee Good Decisions Yingshi Zhao Summary Global businesses are in a new era of

Article Summary #2 - Yingshi Zhao - Article#2 Good Data...

This preview shows page 1 - 2 out of 3 pages.

Article #2: Good Data Won’t Guarantee Good Decisions Yingshi Zhao Summary : Global businesses are in a new era of decision making based on data. How to gather data and deal with them has become an important question in companies. Since companies invest large amount of money into big data, they expect a good return. However, big data can benefit companies only when employees incorporate them into complex decision making. This article points out that nowadays most companies are lack of analytics-savvy employees and some of them may make poor decisions. In additional, this article analyzes reasons and gives companies some ideas about how to make big data benefits companies’ businesses. This article divides employees into three groups based on how they treat data. “Unquestioning empiricists” trust analysis over judgment that they are rarely against the analysis’s result. “Visceral decision makers” are on the opposite side of unquestioning empiricists. They trust their own thoughts but not the data analysis result. “ Informed skeptics” balance judgment and analysis that they are data-savvy workers and generally make good decisions. However, based on the evaluation by Insight IQ, which created by Corporate Executive Board to assesses the ability to find and analyze information, only 38% of employees are defined as “informed skeptics”. And only 50% of senior managers fall into this group. 19%
Image of page 1
Image of page 2

You've reached the end of your free preview.

Want to read all 3 pages?

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

Stuck? We have tutors online 24/7 who can help you get unstuck.
A+ icon
Ask Expert Tutors You can ask You can ask You can ask (will expire )
Answers in as fast as 15 minutes