Business leaders, particularly CIOs, are preferring instinctive judgment over data-driven insights when formulating decisions, according to recent findings.
A new study by Colt, a leading technology services provider, has revealed that IT leaders are placing more emphasis on professional experience and intuition over data and intelligence when managing external events and critical moments.
The study, which involved 201 European IT decision makers, found that 69% of CIOs value professional experience over data and intelligence when managing external events, compared to 66% who prefer data-driven decisions. Similarly, when responding to emerging customer requirements, more IT leaders prefer professional experience, with 67% opting for this approach compared to 61% who prioritize data and intelligence.
In dealing with changing compliance regulations, the study indicates that professional experience is considered more important than data and intelligence by 63% of survey respondents. This trend is also evident when it comes to seeking expertise from other sources, as other sources of expertise have limited influence, particularly input from peers in other parts of the business, according to Grivner, the EVP at Colt.
Carl Grivner emphasized the need for greater engagement with other business areas and external resources to drive success in today's digital world. He stated that the IT department is often too insulated and that in high-stakes situations, CIOs tend to rely on instinct and professional judgement. Grivner's statement implies that the IT department may need to collaborate more with other business areas and external resources to make effective decisions.
The use of data and intelligence is less prioritized than professional experience, according to the survey. However, the study also suggests that technology partners are seen as a valuable source of technical innovation, with 78% of survey respondents considering them as such.
Moreover, the research conducted by Colt suggests that during critical moments, trust between suppliers is a crucial factor in achieving successful outcomes. More than three quarters (76%) of survey respondents agreed that trust between suppliers is the most important element in ensuring successful outcomes during pivotal moments.
Interestingly, the study also found that more than two thirds of CIOs base their decisions on instinct. However, 76% of CIOs admit that their instinct-based decisions often conflict with data sources or third-party advice. Despite this, more than two-thirds of CIOs continue to rely on their instinct, demonstrating the importance of professional experience and judgement in the IT industry.
However, it is worth noting that the author of the study conducted by Colt showing that more than two-thirds of CIOs rely on intuition despite 76% admitting this often contradicts data sources and third-party advice is not explicitly named in the available search results.
In conclusion, the Colt study highlights the importance of professional experience and intuition in the IT industry, particularly in high-stakes situations. It also underscores the need for greater collaboration between the IT department and other business areas and external resources to make effective decisions and drive success in today's digital world.
