Decision-Driven Analytics

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Companies today have access to vast amounts of data, yet many executives struggle to derive meaningful value from it. Marketing professors and behavioral scientists Bart De Langhe and Stefano Puntoni challenge the conventional wisdom surrounding data-driven decision-making, asserting that many analytics initiatives fail because they are not aligned with the decisions that need to be made. They introduce a new approach called decision-driven analytics, which emphasizes the importance of placing data in the background to facilitate better decision-making. Drawing from their research and real-world business examples, De Langhe and Puntoni outline four foundational pillars of decision-driven analytics and highlight common mistakes that hinder organizations from leveraging data effectively. Readers will learn how to avoid pitfalls in data-driven decision-making, bridge the gap between managers and data scientists, enhance the impact of analytics on business outcomes, think independently of data for improved decisions, prepare for the implications of artificial intelligence on analytics, and assess the costs and benefits of this new approach. This insightful guide is essential for anyone looking to harness data for competitive advantage, equipping readers with the necessary skills and tools to utilize data more effectively in achieving business objectives in today’s complex, data-rich environment.