Still, whilst there are many benefits to using data to inform decision-making, challenges remain. A report has found that it's possible for C-suite members to suffer from an "information overload" when the data cannot be used effectively, because there's just too much of it and they lack the technology to make sense of it all. C-suite members must foster a culture of "collaboration and transparency"; using relevant information to build trust and tackle business challenges together.
The combination of emerging technology and differing C-suite opinions is bound to crank up the tension amongst executives. But a failure to see the wider repercussions on the business could be disastrous. However, that does not mean differing opinions should be stunted. A healthy conflict based on data and facts can turn a tense situation into a positive experience for the business.
The journey from conflict to healthy debates needs to start with the provision of accurate and relevant data. So how do businesses achieve this?
It's important that C-level executives are exposed to the same information, in real time, so the provision of up-to-date data via intelligent software becomes invaluable. The latest enterprise resource management systems (ERP), for example, can be accessed anywhere. So, whether it's the CEO at a stakeholder meeting, or a COO discussing plans with teams, it is possible for them to base their business decisions on the same information. Once they are aligned, they can discuss business priorities and concerns more effectively, changing the conversations in the boardroom to focus on business growth.
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