To stay competitive in today’s marketplace, all asset-intensive organizations are facing the same sorts of challenges from demanding stakeholders – a relentless focus on safety, efficiency, and environmental footprint, all within tight budgets.
Asset managers across industries are all feeling the intensifying pressure to consistently prioritize resources correctly and make effective decisions accordingly.
When it comes to decision-making, humans skew towards playing it safe, continuing to make the same choices again and again because they feel comfortable – "This is the way we’ve always done it." Sound familiar? But this subjective way of making decisions can lead to ineffective decisions unaligned with your company’s bigger-picture strategic goals.
Effective decision-making requires a quantitative approach that is justifiable, consistent, and above all, aligned with the greater strategic business goals.