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A new Massey University study shows many top executives are failing to capitalise on the benefits of big data, preferring to rely on their own intuition.
Dr. Nazim Taskin, Professor David Pauleen and Dr. Ali Intezari from Massey's School of Management surveyed 116 managers from predominantly large and medium-sized New Zealand businesses. The aim was to examine the impact of data analytics on managerial decision-making.
Awareness - Data - Managers - Analytics - Decisions
While there is growing awareness of big data, most managers are cautious about using analytics for making decisions due to concerns about data reliability, Dr. Taskin says.
"Nearly two-thirds of the managers interviewed said they had no confidence or trust in big data, preferring to rely instead on their intuition and experience to make decisions," he says. "One-quarter of participants also confessed they had only a modest knowledge of what big data is, or what it can do."
Study - Analytics - Intuition - Managers - Position
The study also found those who favoured analytics over intuition were more often mid-level managers who were not in a position to use big data insights for strategic company decisions.
"Our research revealed top executives are generally not as competent as they could be in using analytic tools and techniques," Dr. Taskin says. "It seems they rely on other managers within the organisation to generate big data insights, and those insights...
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