Summary
To get a clear understanding of how business leaders approach decision making in their organisations, we used special software and a narrative-led methodology to see experiences that otherwise wouldn’t be captured in standard survey instruments.
Since May 2015, we have been collecting micro stories and other signifying data from 2,100 executives and managers across the globe. Over 50 of these are based in Nigeria. We wanted to understand the degree to which they see themselves as data-driven; their reliance on machine learning versus human judgement; their needs around speed and sophistication; and the limitations they face.
View the infographics below for the results of our survey in Nigeria.
What will be your next big decision?
Big decisions and the motivations behind them.
We asked over 50 executives in Nigeria, what their major decisions will focus on before 2020. The most likely proactive decisions are around developing or launching new products or services (32% envisage having to do this); or entering new markets with existing products or services (20%).
Executives in Nigeria are motivated by market leadership and the need to survive.
A mix of human judgement and analytics
Majority of organisations have embraced analytics to some extent. Executives understand the importance of data and are using it to inform decisions. They appear to use a mix of human judgement and analytics, even when it comes to their most important, high level decisions.
Most organisations are currently using data to look forward and forecast what will happen. Less than a quarter are using diagnostic approaches to explain what has happened and why.
What's holding them back?
