72% of business decisions are impacted by data, according to the results of a survey conducted by ICRON. The survey, which was taken by 165 executives at the IoT EurAsia 2018 event held in Istanbul last month, showed that, on average, data influences 72% of the decisions that companies across various industries make – while this figure is significantly higher in the finance industry at 81%.
Only 13% of respondents said that data factors into all their company’s decisions, and this figure was markedly lower in the manufacturing industry at 8%. Only 10% of respondents said that data impacts less than half of their company’s decisions. 79% of respondents said that their company knows which decisions are based on which data, while 21% of respondents reported that they don’t know which decisions are based on which data.
Alfred den Besten, ICRON’s Chief Marketing Officer, said: “ In today’s hyperconnected business world, it’s not surprising that data – which is generated from a variety of sources including IoT devices and back-office systems – is an important factor in business decisions. The crucial question for companies today is: are you using the right data to make the right decisions? Our survey shows that around one out of every five companies don’t have an understanding of which data is being used to make which decisions. This means that approximately 20% of companies may be making decisions based on the wrong data or no data at all, which is alarming.”
ICRON’s President A. Tamer Ünal commented: “ The results of our survey – which reveal that a significant percentage of companies don’t have a grasp of which data is driving which decisions – underscore the need for Optimized Decision Making solutions like ICRON. These algorithm-based solutions give companies the capability to first intelligently compile and collate data from various sources, and then automatically process that data and utilize it to produce optimal calculations and projections, which are used to make optimized decisions that enable these companies to achieve their business goals. With ICRON, companies can instantly transform their data into optimized decisions.”
Every company’s decision making, planning and supply chain optimization problems are uniquely complex and challenging, but there is a single, simple solution: ICRON. ICRON’s algorithm-based, optimized decision making platform is capable of delivering total integration and optimization throughout any enterprise and driving greater operational efficiency, business agility and profitability. Developed in 1992 and proven through scores of successful implementations in some of the world’s largest corporations, ICRON possesses the power and flexibility to provide a complete, customized planning optimization solution for any company – regardless of the size or complexity of your organization.
Even if your business is facing numerous planning and supply chain challenges, ICRON has the capacity to handle multiple decision making processes simultaneously and to enable uniform and unified optimization of all of these separate processes – thereby avoiding sub-optimization and eliminating the need for multiple optimization solutions. No matter which stage of any Supply Chain Optimization Maturity Model your business falls into, ICRON’s scalable platform will provide a 100% fit for your company’s needs at its current state of development, and ICRON’s maturity based investment model is a driving force for a reduced total cost of ownership. And as your business grows and matures, ICRON will expand its deployment, gradually offering more features to meet your company’s increasingly sophisticated requirements. This maturity benefits-based pricing model is designed to continuously deliver optimal value and ROI. ICRON’s groundbreaking Optimized Decision Making platform will serve as the single solution for all of your planning and supply chain problems. ICRON will transform your business, empowering you with the capability to visualize, synchronize, and optimize your end-to-end supply chain operations.