Executives Prioritizing Gut Feelings Over Data Analytics in Decision-Making - Study Shows
In a recent study conducted by Colt, involving 201 European IT decision makers, it has been revealed that more than two-thirds of CIOs base their decisions on instinct. This trend is particularly evident when dealing with high-stakes situations and emerging customer requirements.
According to Carl Grivner, EVP at Colt, the IT department is often too insulated. He emphasized the need for greater engagement with other business areas and external resources to drive success. This engagement, Grivner believes, is crucial in today's digital world, where technological innovation is driven by partnerships with companies like Stellar Cyber, Sysdig, and Netgear.
Stellar Cyber, known for its AI-driven cybersecurity solutions, Sysdig, recognised for its pioneering work in cloud and container security, and Netgear, which contributes to interoperable cloud-managed AV solutions through its involvement in OpenAV.Cloud, play critical roles by integrating advanced technologies and fostering collaborative ecosystems that enhance security, cloud management, and networking capabilities.
The study also found that when responding to emerging customer requirements, professional experience (67%) is considered more important than data and intelligence (61%) by IT leaders. This trend continues in dealing with changing compliance regulations, where professional experience was considered more important (63%) than data and intelligence (56%).
Interestingly, when managing external events, more CIOs value professional experience (69%) over data and intelligence (66%). This suggests that while data is important, it is often the personal experience and judgement of IT leaders that drives decision-making.
The research also indicated that other sources of expertise have limited influence, particularly input from peers in other parts of the business. However, it's worth noting that Grivner also noted that input from peers in other parts of the business has limited influence.
One of the most striking findings of the study is that 71% of the IT decision makers in the study believe that intuition and personal experience are more effective than data intelligence. This underscores the importance of trust between suppliers, with more than three quarters (76%) of survey respondents agreeing that trust between suppliers is the most important element in ensuring successful outcomes during pivotal moments.
In conclusion, the study by Colt suggests that there should be a greater engagement with external resources to drive success in today's digital world. While data and intelligence are important, the personal judgement and experience of IT leaders seem to hold significant weight in high-stakes decisions.
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