So, not really important at all?
> described data sets as the fourth factor of production
From the website ...
Investopedia explains 'Factors Of Production'
In essence, land, labor, capital and entrepreneurship encompass all of the inputs needed to produce a good or service
So, in fact they're saying that big data is the least important factor of production.
and later ...
more and more management decisions are based on “hard analytic information”, as opposed to just having a hunch
I wonder if the decision (on how to make decisions) was taken in the light of "hard analytic information”, or if it was just a hunch?
The interesting thing is, that if all these business successes are the result of a company having a good process, rather than good leadership it rather shoots in the foot the principle that directors should be highly paid because their leadership is what drives success. It sounds like the success is due to the analysts who trawl through these datasets and come up with insightful conclusions - not the people at the top.
Maybe if good data really is the key to success, these CEOs should be keeping schtum about it and carry on claiming that the success was really down to their skill, vision and talent. Otherwise someone might just ask why they pay themselves so much.