Access to information and its impact on decision making

Data, data everywhere but not a drop of information

We live in an age where business has access to much more data than at any other point in history. So it’s hard to believe why decision makers should struggle to access information. However, according to recent research, this is true and the problem is more widespread than you might think.

Survey highlights issue with business information culture

BARC Institute of Würzburg, Germany has surveyed 743 decision makers from around the world. This makes it the largest study to date on the topic of information culture. What the research shows is that most businesses are facing a major challenge when it comes to data access.

Information access rather data volume is the issue

This isn’t anything to do with a lack of data. In fact, on average a company will have access to 5 in-house data sources and 3 external ones. The issue here is to do with access to information. There is a gap between the data a business stores and the information it makes available. In most cases, more than 50% of data remains untouched.

What is the effect on decision making?

If access to hard facts drives good decision making, then one aspect of the research could not be more alarming. The responses show that less than 25% of senior executives are using data as the foundation of their decisions. And the main reason for this is because it is simply too difficult to get hold of the relevant information. There are also issues with how trustworthy they think the data is.

Best in class companies see their data as an asset

The survey does contain some good news. The research highlights a group of businesses that it defines as being best in class. This is because these companies have learned how to work with their data successfully. And as a result, they are using information to identify new business; to predict future trends; and to generate competitive advantage.

It isn’t exactly rocket science

It doesn’t require rocket science if you want to join this select group. But a guiding hand can make sure you get there quickly and without making costly mistakes. Well Begun has a combined experience in company management and data visualization. So we focus on both outcomes and cost effectiveness. This makes us the ideal partner to assist your business.

What We Do

Consultancy

Matching your data to business objectives

Development

Creating data sources and dashboards

Support

Managing your on-going needs

About Us

Well Begun is a consultancy firm that helps clients to make the most out of their data. Our primary area of expertise is in the field of data visualization. Here we supply consultancy, software licenses and services.

We are based in the UK and work with clients from across Europe. They range in size from start-ups all the way through to multi-billion dollar corporations. And they come from across a wide variety of industries.

Our work assists clients in identifying opportunities for growth, cost management and process improvement. This often starts with a point based project and ends up with the provision of a company-wide business intelligence solutions.

We are passionate about the importance of data in decision making. Where we differ from others in the same sector is we have a strong background as business people. Consequently, we offer advice that is practical, viable and focussed on improving business performance.

Our Clients

What Our Clients Say

Well Begun have been instrumental in guiding us in our journey to Business Intelligence.  As a large company we have the luxury of having vast amounts of data, but we didn’t have the tools and experience to move from reports to using the data we had for competitive advantage.

This is were Well Begun stepped in.  They helped us make the link between our priorities and the data sources that would help us visualise and measure our performance simply & quickly.  I would urge any company, whatever size, to work with Well Begun to accelerate their journey to a truly intelligent business.

Wayne Gratton, Business Development Director EMEA, Avnet Technology Solutions

Next steps

  • If you are wondering what next steps you ought to take, here are a few thoughts that might help.
  • The big idea is that access to better information leads to better decision making. So, what you do next needs to move your business away from the risks of opinion-based decision making in favour of a more fact-based approach.
  • Your systems needs to be ordered and presented so as to provide information that is more accurate, timely and understandable. This will then reveal facts that are more memorable, broader-based and easier to communicate.
  • However, we would not recommend you introduce this in a 'big bang' approach. You are much better off trying it out in a controlled environment. This might be a single department or a specific problem the business is currently facing.
  • A good way to start out is with a relatively low commitment in both time and money as this will keep the risks down. It is surprising just how quickly our projects produce tangible results.
  • The world is only ever going to become more complex. Using data visualization offers the chance to simplify your view of the challenges facing your company. See and understand data in a new light and you will transform decision making in your business.
  • Use the contact form below and start the conversation.

Contact Us

    Our Details

    1 Bramley Business Centre · Station Road · Bramley · Surrey · GU5 0AZ
    01252 710710*

    © 2010-2021 Well Begun Limited.  All trademarks acknowledged.

    * Please note that calls to this number may be recorded for quality and training purposes.

    This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.