Don’t miss the 80% of insights that are unsearchable
Last year Forbes published an article called ‘20 Mind-Boggling Facts Every Business Leader Must Reflect On Now,’ revealing that more data has been created in the last two years than in the entire previous history of the human race. Regardless of the influx of insights, Forbes has found that less than 0.5% of all that data is ever analyzed and used.
A few weeks ago, IBM CEO Ginni Rometty furthered this sentiment and revealed to Bloomberg that business leaders are woefully ill-equipped to make the best decisions possible. She noted, “On average a third of your decisions are really great decisions, a third are sub-optimal and a third are just wrong.” It is argued that the lack of data accessibility is what limits decision makers from their full potential. Forbes estimates that for a typical Fortune 1000 company, just a 10% increase in data accessibility will result in more than $65 million additional net income.
Needless to say while the digital era holds tremendous opportunity, it is the inaccessibility of data that prevents professionals from making those ‘really great’ decisions. Bloomberg and IBM Watson estimate that only 20% of the world’s data is searchable online. This percentage is alarmingly low as we have already established that there’s more data created and available than ever before.
Business professionals who form decisions that will continue to affect the success of their businesses are constantly choosing to rely on dated, archaic, and recycled research techniques that have been around for years — research available to their competitors as well. They’re limiting themselves to 20% of the data that’s actually available, setting themselves up to make decisions that are ‘sub-optimal’ and ‘just wrong’ 67% of the time. When competition is tighter than ever, businesses cannot afford to lose on more than half of their decisions.
“The other 80% [of data] lives with all of us who’ve established businesses — and my view is that data has got a lot of gold in it.”
People that have been down a similar path and interacted with the data you are trying to learn about have the highest likelihood of giving you a realistic understanding of what that means for your business.
This is why successful business leaders are turning to AlphaSights to help them search for precisely the right people who have the other 80% of knowledge they would otherwise be unable to access. Our knowledge-search platform allows us to connect our clients to vetted, custom-sourced experts to ensure the interaction is of the highest value.
Since 2008, we’ve worked on over 2,100 research requests for Fortune 1000 companies who are making mission critical decisions. These individuals are working diligently to:
- Set corporate strategies
- Build 5-, 10-, 20-year product roadmaps
- Hear the voice of customer
- Acquire key companies
By accessing the right insights, they feel confident in their hypotheses and make decisions they are comfortable with recommending to management. They reduce the risk and make more of those highly coveted “really great” decisions Rometty described.
How does your team conduct its research? How are you ensuring that you move beyond the 20% of searchable data and access the 80% of knowledge worthy of basing your decisions?
As a Corporate Development Manager at AlphaSights, I am passionate about bringing the platform of knowledge search to the F1000. We partner with leaders at corporations who need direct access to the voice of customer, benchmarking against competitors, validation for new products, and market mapping.
Let’s connect and get you closer to the 80% of the knowledge you’re missing.
Sloan.Danenhower@alphasights.com | +1 212–231–9030