The Great Recession is hopefully now behind us, but its effects will be with us for eternity. That's because the recession fundamentally changed how people think about the world, in two ways.
First, it focused a harsh spotlight on the quality of decision-making in the modern enterprise. Second, and probably more significantly, it called into question the legitimacy of the leaders making those decisions. Martin Wolf, associate editor at the Financial Times, summed up the whole tragic scenario when he said that most people "no longer believe that [executives] know what they are doing."
The only way we can win back the trust of those we would lead, those who would buy from us and those who would invest in us is to become data-based leaders. Organizations that do not embrace the realities of big data, employ the services of data scientists and banish data-challenged CEOs will fail, and fail quickly.
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