Productivity of managers gets lost in the flood of data

Originally published on 04/28/2023

Those who have more information at their disposal make better decisions. What may sound obvious in theory is often a far cry from business reality, as researchers at the US software company Oracle have discovered. According to their findings, management boards in particular are literally overwhelmed by the flood of information they receive on a daily basis.

Not all data is the same

The decisive factor here is not the sheer quantity, but rather the quality of the data. Although almost all of the managers surveyed would like to have a solid data basis for their decision-making, a striking 91% believe that the growing number of data sources is affecting the success of their company. Almost a third are overwhelmed by the interpretation of the available information, and 30 percent believe that they do not have sufficient knowledge to evaluate the data efficiently. Nearly four in ten state that the processing of information slows down strategic decisions in their company – a quarter even observe a higher error rate due to the confusing data situation.

Urgent need for action

The authors of the study expect serious consequences for the entire economy. “Without the right approach to data management and analytics, companies are doomed to fail,” the study states. “Our current approach to managing and analyzing data needs to change.” The researchers are not alone in this: the desire for change has now reached most boardrooms. For example, 77% of managers now expect digital technologies to help them clear the data jungle and make informed decisions. The authors of the study also see great opportunities in digital decision making. “What managers really need is decision-making intelligence that combines data with insights, decisions and measures,” they conclude.

Augmented Intelligence as a way out

This is exactly where “Fred” comes into play. The digital assistant is an Augmented Intelligence solution developed by Brain4Data that independently compiles, analyzes and processes existing data within companies. Based on this, “Fred” generates information that is made available to employees and managers in an automated and comprehensible way – exactly when it is needed. “Fred” also independently identifies urgent business events and provides tailored recommendations for action. It works across departments and thus links all relevant information – for example from sales, accounting and HR. “Fred” is able to process data from all common programs such as Excel or SAP applications. This means that managers and employees can continue to work with the software they are familiar with. As a result, Fred gives them the freedom to concentrate on the essentials: Moving their company forward.

Link to the study: https://www.oracle.com/de/cloud/decision-dilemma/

About Brain4Data

Brain4Data GmbH & Co KG is a consulting company and solution provider for Robotic Process Automation (RPA) and Augmented Intelligence (AI) based in Saarwellingen. We analyze communication and work processes in companies. Based on this, we identify automation opportunities to support a streamlined work and communication flow. We also offer the digital assistant “Fred”, who helps to automate processes and simplify workflows.