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Better data decision making starts with building trust

Collecting unruly data often results in analytics faux pas. Our #CIOChat-ters discuss better data decision making in our prescriptive analytics chat.

Prescriptive analytics aims to find the best course of action for a given situation. "I advise clients that they...

start with the business problem they are trying to solve and then find the relevant data," says Lisa Kart, a Gartner research director specializing in the applications of advanced business analytics.

So how do you get your team on board and practice better data decision-making? We asked April's tweet jam participants, "What is the best way for people to understand and trust prescriptive analytics?"

If monetary benefits don't convince users to give prescriptive analytics a shot, #CIOChat-ters suggested forming relevant partnerships, garnering trust for underlying data and leading by example in order to get stragglers on the prescriptive bandwagon:

Once IT has everybody on board and prescriptive analytics is demonstrating tangible, positive results, what comes next? SearchCIO Executive Editor Linda Tucci asked tweet jammers to look to the future:

Tweet jam expert Tom Doub, regular tweet jammer Mark Thiele and SearchCIO's resident analytics reporter Nicole Laskowski sounded off on the potential next stage in data analysis:

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But enough about the future -- what about crafting a better predictive and prescriptive analytics strategy for the here and now? 

There's still no set-in-stone way to execute a plan; our #CIOChat-ters acknowledged that having open conversations won't necessarily prevent IT from making poor decisions based on bad data and poorly crafted algorithms: 

Bad data decision-making is not particularly new: In 2004, Gartner research indicated that 25% of critical data within Fortune 1000 companies would continue to be inaccurate through 2007. Ten years later, how much has changed? #CIOChat-ters -weighed in on their most relevant concerns:

How do you make better data-based decisions and what comes after prescriptive analytics? Please add your remarks to the comments section below. Follow @SearchCIO on Twitter for updates on our next #CIOChat scheduled for Wednesday, May 28, at 3 p.m. EDT.

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What comes after prescriptive analytics? Will machines take the reins?
Ideally, machines won't totally take the reins - it will be a collaboration between human decision-makers and the technology that informs those decisions. There are many situations where you need a sanity check on what the analytics are telling you, but it'll also be a good development to get to a point where the numbers help to prevent poorly researched decisions.
Interesting conversation - I'm reminded of Rush (fortunately or unfortunately, depends on your taste): "If you choose not to decide, you still have made a choice." Inaction in the face of data evidence is something that has doomed many companies over the years - sometimes moreso than making bad decisions.