In a recent article published in the Construction Financial Management Association’s Bottom Lines newsletter, Chad Graves discusses how businesses can benefit when they efficiently use technology and analytics. Companies recently began investing in better-equipped documentation systems and metrics, but if the data is not properly examined before it’s incorporated into the system, the results may be misleading.
Confirmation bias also plays a role in faulty data and measurement metrics. “Confirmation bias can result when entities, whether in the form of individuals’ explicit requests or an organization’s implicit cultural demands, look for justification for either future or past actions as well as evidence that what they have done or plan to do is the best, most effective option,” he says. For a business to successfully use their technology, every part of the business should be filtered through technological proficiencies and tools with metrics in mind.
For more information on how Bennett Thrasher Technology Services can assist you with your technology needs, please contact Chad Graves by calling 770.396.2200.