Managers: Quick decisions can sometimes take 20 days​

When it comes to decision-making in companies, there are sometimes worlds between self-assessment and reality – at least that’s what Alteryx thinks in its new report “The Decision-Making Technologies Shaping the Future of the Enterprise”. According to this, 61 percent of the managers surveyed for the study believe that they make decisions “quickly and efficiently”. On average, however, they need up to 20 days, depending on the scope of their decision.

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The study differentiates between three types of decisions: Respondents at management level allow an average of 2 days for routine operational decisions that affect day-to-day business. Tactical decisions with short-term effects take longer; there you get a result after about 6 days. After all, bosses need the aforementioned 20 days for strategic decisions that are more complex and also have long-term effects.

Decision automation still takes 10 years

Alteryx finds this to be far too slow. A possible solution: The complete automation of business decisions, supported by data and made for example from AIs. Practically all those surveyed expect this to happen sooner or later (97 percent) – but on average managers believe that it will only be possible in around ten years.

Until then, the democratization of data could help companies, says the company Alteryx, which itself offers software in the field of data science and data analysis. More than half of those surveyed said that a good data basis helped them to make decisions more quickly. At the same time, only 24 percent of them use “advanced technologies and analysis tools to automate decision-making” and only a third of business leaders think that executives should also have access to all data relevant to their decision-making.

For the survey, Coleman Parkes Research spoke to 2800 executives on behalf of Alteryx in March and April 2023. The respondents came from North and Latin America, Europe, the Middle East and Asia – the provider does not reveal exact countries. The entire study offers Alteryx against Submission of personal data for download.

(jvo)