![]() ![]() We can see the impact on economic output over time, as data dense products grew to comprise two-thirds ($17.3 trillion) of U.S. We found that digitally mature organizations assign importance to both speed and control with twice the frequency of less mature organizations. Some organizations understand this delicate balance many don’t and don’t invest accordingly. In fact, that’s how we define decision velocity – the delicate balance between speed and control The goal is to move through the loop as quickly as possible, but there is still a need for control. While the OODA loop can become quite complex as additional feedback loops are added, the fundamental model relies on four steps – observe, orient, decide, and act. In the 1970s, Colonel John Boyd, USAF, defined one of the best-known decision processes, the OODA loop, which was used by fighter pilots in its earliest iterations (Colonel Boyd later became a consultant to many of the largest organizations in the U.S.). How organizations do that requires an understanding of what it means to make big decisions and what the decision-making process looks like. The only way to thrive in these highly volatile and uncertain environments is to improve decision velocity. Data is now increasingly distributed geographically, across hybrid and multicloud environments, creating additional complexity. ![]() There’s more data than ever before… it’s faster, and it’s more varied. And, as these projects are implemented, business leaders must contend with the three familiar Vs of data – velocity, variety, and volume. New projects, particularly ones that involve data analytics and artificial intelligence, will typically kick off within six to 12 months of a major change in the C-Suite. Well, turnover in the C-Suite is often a leading indicator of new, impactful projects and initiatives, as new executives ask questions, address problems, and propose solutions. But, 30% of organizations also cited changes in the C-level executives. In a recent IDC survey, when we asked organizations about impactful changes over the last few years, they cited a familiar set of challenges, including changing (remote and hybrid) work models, increased regulation, and higher than usual employee turnover. While most businesses must contend with less controlled, more volatile environments, Formula One offers an extreme, but nevertheless instructive example, demonstrating how these teams extract and analyze data from every race and apply those learnings to improve performance. In my recent presentation at IDC Directions 2023, I presented a video clip of a pit stop in a 2019 Formula race in Brazil to illustrate the impressive result of high-velocity decisions by highly trained professionals – four tires changed in under two seconds (yes, the Formula One driver – and his supporting Red Bull team – won that race). With greater frequency – and greater urgency – business leaders, including the C-suite, are now taking ownership of initiatives that address decision velocity. At IDC, we are seeing increased business focus on accelerating decision velocity – an interest that extends well beyond the traditional domain of IT executives. ![]()
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