The Analysis Paralysis Conundrum

In business, we have more information at our fingertips than ever before in today’s connected world.  The vast array of analytical tools, spreadsheets, databases, customer surveys, consumer polls, point of sale systems etc. give us more data than we could ever need to make the basic of business decisions.  Should we turn left?  Should we move straight?  Do we sell X?  Do we charge Y?  What is our next move? 

Yet, with so much analysis at hand, why do so many smart business people sink in their own quantitative assessments?  You see it every day in businesses across the country; big, small, hi-tech, low-tech, industrial, commercial etc.  It does not matter.  When the decision is not obvious or easy to make, fear sets in and we analyze again, and again, and again…

I have seen the smartest and sharpest leaders scared straight by the lack of an obvious, “no brainer” decision when the analysis showed nothing.  DO IT AGAIN!  That is the strategy.  We test again, recalculate again, we meet again or let the “pilot” continue longer and never “pull the trigger.”  Making business decisions are far clearer when analysis is not viewed as THE answer, but a means to get to it.  One must break it down every situation by its core components; people, process, technology.  Analysis will almost always reveal that one of these is the leading edge of the right answer. 

Do I get closer to my customers by implementing a CRM solution? (Technology)  

Do I reduce costs by consolidating duplication of work? (Process)

Do I fire my customers who cost me money and reallocate my resources around ones who do? (People)

Do I build my Client Services team around my clients who make me money? (People | Process | Technology)

Often, the right answers require a little analysis and a lot of focus on what is important.