TALKING

The study shows that collecting and interpreting data has driven respondents to their breaking point – feeling overwhelmed and under qualified to use data to make decisions .

This , the study says , is both hurting their quality of life and business performance .

" People are drowning in data ," said Stephens- Davidowitz , Data Scientist and Author of Everybody Lies and Don ’ t Trust Your Gut .

" This study highlights how the overwhelming amount of inputs a person gets in their average day frequently add up to more information than the brain is configured to handle . People are tempted to throw out the confusing , and sometimes conflicting , data and just do what feels right . But this can be a big mistake . It has been proven over and over again that our instincts can lead us astray and the best decision-making is done with a proper understanding of the relevant data . Finding a way to get a handle on the stream of data at their fingertips , to help businesses distinguish between the signal and the noise , is a crucial first step ."

• 93 % have changed the way they make decisions over the last three years with 39 % now only listening to sources they trust and 29 % relying solely on gut feelings .

The study shows this decision distress is creating organizational inertia .

Business leaders want data to help and know it is critical to the success of their organizations , but don ' t believe they have the tools to be successful which is eroding their confidence and ability to make timely decisions .

The study of more than 14,000 employees and business leaders across 17 countries found that people are struggling to make decisions in their personal and professional lives at a time when they are being forced to make more decisions than ever before – and data overload isn ’ t helping .

According to the study :

• 74 % of respondents say the number of decisions they make every day has increased 10x over the last three years and as they try to make these decisions – with 78 % being ‘ bombarded ’ with more data from more sources than ever before .

• 86 % say the volume of data is making decisions in their personal and professional lives much more complicated and 59 % admit they face a decision dilemma – not knowing what decision to make – more than once every single day .

• 35 % don ' t know which data or sources to trust and 70 % have given up on making a decision because the data was overwhelming .

• 85 % say this inability to make decisions is having a negative impact on their quality of life . It is causing spikes in anxiety ( 36 %), missed opportunities ( 33 %) and unnecessary spending ( 29 %).

• 85 % of business leaders said they ’ ve suffered from decision distress – regretting , feeling guilty about or questioning a decision they made in the past year – and 93 % believe having the right type

The best decision-making is done with a proper understanding of the relevant data .

of decision intelligence can make or break the success of an organization .

• 97 % want help from data . In an ideal world , they want data to help them : make better decisions ( 44 %), reduce risk ( 41 %), make faster decisions ( 39 %), make more money ( 37 %) and plan for the unexpected ( 29 %).

The study saw 72 % admitting the sheer volume of data and their lack of trust in data has stopped them from making any decision at all and 89 % believe the growing number of data sources has limited the success of their organizations .

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