3. Become a data-driven decision-maker.
In today’s marketplace, simply having data isn’t enough. You need cutting-edge analytics to glean breakthroughs and discoveries from your data.
So it’s troubling that 85% of executives say they don’t know how to analyze the data they’ve collected, according to one KPMG study.
The best leaders don’t collect data for data’s sake. They ask questions like, “What pressing problems do I need to address? What challenges are my customers facing?”
That is, smart leaders are hypothesis-driven: They pinpoint their goals and run targeted analyses that address specific problems and objectives. With those insights, they recalibrate their vision and make razor-sharp decisions — in everything from succession planning to performance development.
As a result, their companies boast enviable agility. Data-driven leaders fuel outcomes with every action they take because they are empowered with predictive, forward-looking insights.
There is no magic wand for business excellence. Leaders must demonstrate persistence and courage. The courage to take risks. The courage to admit when you don’t have all the answers.
It’s a tall order, but leaders who are willing to go out on a limb will find that it’s worth it.