The Encore – PwC: The Future of Decision Making for Private Companies

In our Global CEO Survey released in February 2016, 81% of private company CEOs believed their company would see revenue growth over the next year, and 91% expected growth over the next three. With growth comes change and executives will be faced with a number of frequent decisions to successfully push their organizations to the next level.

In our latest global survey, Big Decisions, more than 2,100 executives from across 10 countries and 15 industries were asked to share their insights on the complexities of decision making, and what the future might hold.

Across Canada, more than half (63%) of family business leaders agree that there is a need to adapt their organization among an increasingly digital world. Where might we see this adaptation unfold? Likely in the use of data analytics to make quicker, more sophisticated decisions.

In the Big Decisions survey, Canada’s c-suite leaders stressed the need for a future with faster and more sophisticated decision making. The focus is on getting the right information to the right places at the right time – and taking action. It’s applying the right level of insight to the right problem to create the right value. When combined, speed and sophistication will help maximize the return on investment for data and analytics, reduce the impact of human bias, and yield more accurate answers.

Currently, the gap primarily lies within sophistication, with speed making greater strides for improvement by 2020. This gap tells us that companies may not be taking full advantage of the analytics they already have, or they aren’t ready for a more advanced approach. This leads us to ask – what steps companies take to unlock the potential of data and analytics? –

Learn more about our findings in our Global Data and Analytics Survey 2016, Big Decisions.

 

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