There’s no question that today’s businesses are searching for ways to do more with less – all in the name of increasing productivity – and data-driven applications that encourage collaboration are often at the top of the list.
For example, economists from MIT’s Sloan School of Management and the Wharton School at the University of Pennsylvania recently studied 179 large companies – and found that those who adopted “data-driven decision-making” achieved productivity gains that were “5 to 6 percent higher than could be explained by other factors,” including technology investments.
The researchers found that business productivity wasn’t just about simply collecting data – it was about collaboration and how it was used efficiently to drive such major decisions as whether to create a new product or launch a new service. At the end of the day, the difference, said researchers, was about making better decisions based not on traditional management tactics as experience and intuition – but on data and analysis.
