Data-Driven Decision Making
Recent research has shown that companies that emphasize data and analytics through “data driven decision making” showed output and productivity 5 to 6 percent higher than their peers. This performance improvement persists into other performance measures, such as asset utilization, return on equity and market value.
In the energy markets, data is available at the most fundamental level to show how the markets are operating now, and can provide key insights into where the opportunities and stress points are in the future. As a result, decisions can be supported by evidence and justifiable market intelligence, rather than “gut feel” and inertia.
ABB Market Data provides you with the fundamental data required to analyzed market trends and simulate the future market for price forecasting, transmission planning and trading support.
 Erik Brynjolfsson (MIT), Lorin Hitt (University of Pennsylvnia) and Heekyung Hellen Kim (MIT), conference paper “Strength in Numbers: How does data driven decision-making affect firm performance?”, based on a detailed survey of 179 big US companies, 2011