Leaders prefer robots' decision-making

People feel overwhelmed and under qualified to use data to make decisions and this is hurting their quality of life and business performance, according to a new study – The Decision Dilemma – by Oracle and Seth Stephens-Davidowitz, New York Times bestselling author. The study of more than 14,000 employees and business leaders across 17 countries found that people are struggling to make decisions in their personal and professional lives at a time when they are being forced to make more decisions than ever before.   

People in the UK (87%) are the most overwhelmed in Europe by the data deluge. The amount of information available is damaging trust, making decisions more complicated, and negatively impacting our quality of life at home and at work. UK business leaders are suffering the most in Europe (95%) from decision distress due to the overwhelming amount of data which prevents them from working effectively. Therefore, it may not be a surprise that UK leaders are the most confident (76%) in the continent when it comes to delegating decision-making tasks to robots. 

The number of decisions we are making is multiplying and more data is not helping 

Brits are overwhelmed by the amount of data and this is damaging trust, making decisions much more complicated, and negatively impacting their quality of life.  

83 percent of people in the UK (74 percent globally) say the number of decisions they make every day has increased 10x over the last three years and as they try to make these decisions, 87 percent (78 percent globally) are getting bombarded with more data from more sources than ever before.  

92 percent (86 percent globally) say the volume of data is making decisions in their personal and professional lives much more complicated and 61 percent (59 percent globally) admit they face a decision dilemma – not knowing what decision to make – more than once every single day. 

41 percent UK (35 percent globally) don’t know which data or sources to trust and 71 percent (70 percent globally) have given up on making a decision because the data was overwhelming. 

86 percent of people UK (85 percent globally) say this inability to make decisions is having a negative impact on their quality of life. It is causing spikes in anxiety (36 percent globally; 41 percent UK), missed opportunities (33 percent globally; 31 percent UK), and unnecessary spending (29 percent globally; 25 percent UK).  

As a result, 94 percent of Brits (93 percent globally) have changed the way they make decisions over the last three years. 41 percent (39 percent globally) now only listen to sources they trust and 28 percent (29 percent globally) rely solely on gut feelings.  

Decision distress is creating organizational inertia 

UK business leaders want data to help and know it is critical to the success of their organizations,  

but don’t believe they have the tools to be successful which is eroding their confidence and ability to make timely decisions.  

93 percent (85 percent globally) of UK business leaders have suffered from decision distress – regretting, feeling guilty about, or questioning a decision they made in the past year – and 99 percent (93 percent globally) believe having the right type of decision intelligence can make or break the success of an organization. 

In the UK everyone – 100 percent  of people (97 percent globally) want help from data. In an ideal world, they want data to help them: make better decisions (44 percent globally; 45 percent UK), reduce risk (41 percent globally; 36 percent UK), make faster decisions (39 percent globally; 39 percent UK), make more money (36 percent globally; 37 percent UK), and plan for the unexpected (29 percent globally; 31 percent UK).  

In reality, 80 percent of UK business leaders (73 percent globally) admit the sheer volume of data and their lack of trust in data has stopped them from making any decision at all and 94 percent (91 percent globally) believe the growing number of data sources has limited the success of their organizations.  

Managing different data sources has required additional resources to collect all the data (42 percent globally; 46 percent UK), made strategic decision making slower (38 percent globally; 30 percent UK), and introduced more opportunities for error (28 percent globally; 32 percent UK). 

Data needs to be relevant to the decisions people make or they will give up on it 

Collecting and interpreting data has driven Brits to their breaking point at a time when the stakes are incredibly high for business leaders.  

78 percent of people in the UK (70 percent globally) say the headache of having to collect so much data and interpret it is too much for them to handle. 

This is particularly evident in the business world. 84 percent of UK business leaders (78 percent globally) say people often make decisions and then look for the data to justify them, 80 percent of employees (74 percent globally) believe businesses often put the highest paid person’s opinion ahead of data, and 18 percent of all people (24 percent globally) feel that most decisions made in business are not rational.  

The situation is so challenging that 65 percent of people (64 percent globally) – and 76 percent of business leaders (70 percent globally) - would prefer for all these difficulties to just go away and to have a robot make their decisions. 

Despite their frustrations with data in their personal and professional worlds, people know that without data their decisions would be less accurate (44 percent globally; 46 percent UK), less successful (27 percent globally; 21 percent UK), and more prone to error (39 percent globally; 42 percent UK). 

People also believe that an organization that uses technology to make data-driven decisions is more trustworthy (79 percent globally; 82 percent UK), will be more successful (79 percent globally; 81 percent UK), is a company they’re more likely to invest in (76 percent globally; 78 percent UK), partner with (77 percent globally; 79 percent UK), and work for (78 percent globally; 80 percent UK).