Abstract

To remain competitive in a commercial environment, constantly innovating and searching for efficiencies, sources of data are required that reduce the uncertainty associated with decisions and guide a path toward improvements in performance. The business world is undergoing a revolution driven by the use of data and analytics to guide decision-making. Gone are the days where senior leaders within organizations could decide simply on the basis of intuition to invest in new technologies or a new route structure. In the contemporary industrial environment, regulators, consumers, and investors alike demand evidence-based and, importantly, defensible decisions from organizational leaders.