What will a board meeting look like in 2025?
Few things can undermine and shatter individuals quicker than board meetings.
At best decisions get glossed over in a blindfolded focus to deliver compliance and reporting. Tick box and process; this is the way we do it.
At worst you ask a question about integrity, facts, data, implications and knock over the first domino in getting side-lined, riddled and undermined.
Data lineage, data providence and data visualisation are the new foundations to enable a board to interact with data and make better decisions. Decisions with integrity and show balanced judgement in complex scenarios; decisions that can be trusted and have a reason and proof for their existence. Beautifully, as more evidence appears from data and bias, decisions can be re-appraised to determine if the best outcome is still possible.
The board meeting be different by 2025. The skills will be different, the format will be different, the outcomes will be different, the oversight will be different. No table, no papers, no chairs, but the amazing people will remain.
Whilst we cannot lose compliance or all the good work to eliminate fraud; this focus is not good enough and will need to be improved on if individuals are going to make better decisions. Boards will be a very different by 2025 for companies who are thriving, they will be using the most experienced and diverse thinkers from the leadership to make the right decisions. Strategy and scenarios become continually interactive, data become the blood of the organisation signalling and carrying insights which can be found and explored.
There is no right answer in this complex world, but some decisions will be detrimental if the data does not support them and where there is no data, there is will be evidence.