COVID-19 is forcing brands to make faster decisions, but most lack access to real-time data

New Ideas in MarketingEssential news for marketers, summarised by YouGov
October 15, 2020, 12:10 PM UTC

Exasol surveyed 2500 data decision-makers globally to understand their challenges in decision-making amid the pandemic.

While 84% of organisations are forced to make faster decisions due to the crisis, 58% of decision-makers lack access to real-time insights and are making decisions based on outdated data. Despite decision-makers agreeing regular updates are necessary for informed decision-making, the long query run times have made this difficult.

Around 60% of businesses are struggling with essential decisions amid the pandemic as they think their decision-making infrastructure is “not responsive enough.” Companies also believe that to recover from economic challenges; data infrastructure must improve.

The study found organisations that have increased the size of decision-making teams have observed an increase in decision-making speed. Exasol’s CTO Mathias Golombek said data-democratisation and self-service analytics could help reduce query response time.

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