Data without analysis is like a jumbled up box of puzzle pieces. Do you have all of the pieces? How do they go together? Where do you even begin?
Unlike a puzzle, data can be put together to paint varying, perhaps even contradicting, pictures of your decision-making environment. Without a clear understanding of how the data was harvested, your business goals, and where to begin, any decision maker can get lost in the details.
In fact, the state of being lost in the data has a name. It’s called analysis paralysis and it’s left world leaders unsure of whether to act since, well, the beginning of world leaders. And with the amount of available data in this global, digital age, it’s easier than ever to be overwhelmed with the facts.