Increasingly companies across all industries are adopting data-driven decision making in their strategic planning and with good reason. Companies that follow data-driven decision methodologies are 3 times more likely to execute their decisions as intended. But what many companies are learning the hard way is that data alone does not help you make decisions. Gathering the correct dataset is often just the first of a series of time-consuming and repetitive steps that need to be taken to convert raw, unstructured data into the insights they need to make important decisions.
The following infographic illustrates the benefits companies can enjoy when data-driven decision making is properly executed, and some of the challenges and opportunities that can be missed when well-intentioned plans to employ DDDM aren't well executed or planned out.
On August 6th, PIERS will be hosting a webcast Data-Mining for Gold: Converting Trade Data into Actionable Intelligence where we will examine some of the struggles companies have working with unstructured trade data and some of the common pitfalls of have trying to solve these problems in-house.
The webcast will be concluded with a live demo of PIERS new automated platforms that help companies in the transportation, chemical and manufacturing industries eliminate this work while increasing data quality and providing insights as specified by the customer.