BIG DECISIONS: EIU/PwC REPORT - Press Release - data-driven vs experience-based decision making

Sep 20, 2026

Uploaded by Eliana

Executives worldwide report readiness to make major strategic choices, yet only about one third rely primarily on data and analytics when making their latest big decision. Experience, advice, and intuition remain dominant decision modes, though executives from highly data-driven companies report notable recent improvements. The survey finds big decisions often arise opportunistically, carry major profitability implications, and are frequently reviewed, while priorities include investing in data-analysis quality and expanding specialized analytics and dedicated data teams.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages2

Reading Time5 min

AccessFree to download

Key findings

Decision modes and data-driven performance

Survey scope and respondent profile

Motivations, changes planned, and decision areas

Structured approaches for value and outcomes

24 Sept 2014 PRESS RELEASE BIG DECISIONS: EIU/PwC REPORT Executives Rely More on Experience and Advice Than Data to Make BusinessDefining Choices, But Data-Driven Organisations Report Improved Decision Making 􀂃 Highly data-driven companies are three times more likely to report significant improvement in making big decisions, but only 1 in 3 executives say their organisation is highly data-driven. 􀂃 More big decisions are made opportunistically than deliberately, and big decisions have big impact on future profitability; nearly 1 in 3 executives value those decisions at $1 billion+ 􀂃 Many executives sceptical or frustrated by the practical application of data and analytics for big decisions, especially in emerging markets The great majority of executives around the world – 94% – say management of their company is prepared to make significant decisions about the strategic direction of their business, but barely onethird relied primarily on data and analytics when they made their last big decision. Executives’intuition or experience and the advice and experience of others in their organisation were the decision making modes of choice for 58% of executives. However, of the executives from highly data-driven companies, 43% report significant improvements in decision making over the last two years. All executives said top priority over the next two years is to make investments in the quality of data analysis to make better decisions. According to Gut & gigabytes: Capitalising on the art & science in decision making, a new survey report by the Economist Intelligence Unit sponsored by PwC, executives make big decisions frequently and review them often. More than three-fourths of executives make a big decision each quarter and 43% review them every month. The survey found that the five most important decisions facing executives in the next 12 months are, in order: growing the existing business, collaborating with competitors, shrinking the existing business, entering a new industry or starting a new business, and corporate financing. Said Steve Billinghurst, PwC Isle of Man’s Data and Analytics Leader: “A company’s success today is tied to how good it is at making big decisions. While executives say they continue to rely on experience, advice, or their own gut instinct, they also see investment in data and analytics as critical to success. Experience and intuition and the use of data and analytics are not mutually exclusive. The challenge for business is how best to marry the two. Executives know the right questions to ask. Now they need to know how to get the right answers from external and internal data they’ve used over the last two years.” Executives said the appearance of a business opportunity they could not ignore was the most common motivation for considering a big decision (30%). Other reasons: making decisions that were previously delayed (25%), strategic fit (18%), testing ideas (15%), reacting to external factors (9%), and regulation (4%) . Despite executives’ comfort in relying on gut instinct, nearly two-thirds (64%) said the use of data has changed how their company makes decisions and they expect it to have more impact in the future. The top three changes executives plan in decision making include the number of people involved in making a decision, greater use of specialised and enhanced analytics and data analysis, and the use of dedicated data teams to inform strategic decisions. Said Paul Jones, PwC Isle of Man’s Data Assurance Director: “With so much at stake when it comes to the impact of big decisions on profitability, often valued in the millions of pounds, and the lack of predictability and frequency of when decisions are required, companies are trying to increase their decision making speed and sophistication. Better decision making requires the use of newly accessible data and analytic techniques, as well as clarifying accountability and the decision making processes.” The s

FAQs

How do executives typically make their last big decision?

Most rely on experience and advice from others rather than primarily on data and analytics.

What changes do executives expect regarding data’s impact on decisions?

Nearly two-thirds report data has already changed decision-making and expect it to have more future impact, including wider use of enhanced analytics and dedicated data teams.

What is the top motivation for considering a big decision?

The appearance of an opportunity they cannot ignore is the most common motivation, followed by delayed decisions finally being made and strategic fit.

Sep 20, 2026

Uploaded by Eliana