We now work in a world awash with data. But too much data can actually hinder making effective business decisions. According to IBM’s 2012 global survey of 1700 CEOs, asking customers what matters to them is now more useful than financial analysis. 

"This is now a continuous feedback kind of world, and we need the organizational nimbleness to respond."

CEO, Financial Markets, USA

"Of course we need information and insight, but what we need most is the capability to act on it."

Unit head, Government, Hong Kong

So how can you get to know your customers better? While there is no substitute for face-to-face, the survey found CEOs of outperforming businesses believe social media is the next best way to gather insights. More importantly, these insights are helping them take action.

In the words of Boston Consulting, today in business "the spoils go to the nimble."