What is VUCA? VUCA stands for a business world that is more Volatile, more Uncertain, more Complex and more Ambiguous than ever before.
As businesses deal with Brexit, currency fluctuations, and batten down the hatches for further upheaval during natural disasters, no one knows what will come next. Such shocks are coming with ever greater frequency – you don’t have time to prepare, and even if you do, another thing comes along to pull the rug out from under your feet. Over 50% of Fortune 500 companies from year 2000 do not exist anymore!
Now, thanks to the internet and smartcloud technology, we have instant access to all the data we will ever need. We can use real time data and instantly respond to changes. At least, that’s the theory. In practice, most businesses have failed to catch up with the times and make the most of the tech revolution.
Only 1/3 of big decisions made by executives are based on internal data and analytics.