Data-Driven vs Intuitive Decision-Making, June 2014 [CHART]
Recent studies indicate that US marketers often rely on their gut for marketing budget decisions. But this may not be a universal view: a new survey [PDF] sponsored by Applied Predictive Technologies (APT) and conducted by the Economist Intelligence Unit finds that global business leaders are much more likely to describe their approach to making significant management decisions as being “data-driven” (42%) than “intuitive” (10%). Even so, the study results also suggest a low amount of confidence in data analysis when it comes into conflict with intuition.
Asked what they would do if the available data contradicted their gut feeling when making a decision, a majority 57% of respondents said they would re-analyze the data, while another 30% would collect more data. Only 10% would take the course of action suggested by the data. Read the rest at MarketingCharts.