Unable to access data-driven insights in time, 82% of UK business leaders are being forced to choose between fast and informed decisions
UK business leaders are still being forced to rely on instinct to make critical decisions, despite growing demand for data-driven leadership. That’s according to new research from Confluent.
The research reveals that 59% of CEOs, MDs and C-level executives frequently rely on gut feel when making important business decisions. 82% feel forced to choose between making a quick decision and making an informed one.
Accessibility and timeliness of business data is crucial
Further insights from the Confluent study reveal:
- Six in ten leaders say data is too difficult to access (60%)
- Almost two-thirds (62%) say there often isn’t time to analyse all available data before making a decision, and
- 71% report that data is frequently out of date when it reaches the C-suite.
“Gut instinct is based on confidence and experience rather than cold, hard evidence,” comments Richard Jones, VP Northern Europe, at Confluent. “No matter how experienced or informed you are, without data to back up your decisions, something will eventually prove to be an unpleasant surprise.”
As a result, many business leaders are experiencing something of a crisis of confidence. Four in five (80%) say businesses cannot be fully confident in their decisions without up-to-date data. This undermines crucial decision-making moments: three-quarters (75%) say they have regretted decisions where they acted too quickly, while 71% waited too long and missed an opportunity altogether.
Business leaders increasingly see real-time data as the answer. More than six in ten (61%) say real-time data streaming will become essential to their business over the next 12 months.
Richard Jones continues:
“Real-time data is a crucial defence against such surprises. It allows business leaders to fact-check their instinct against the real world and adjust accordingly. Ensuring that this data is accessible, reliable, and actionable right across an organisation is the best way to enable effective, decisive judgement calls.”
To find out more about real-time data and business decision making, download the Confluent report here.
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