There are many steps involved with a corporation’s strategic planning process. The very first step involves assessing your business, industry, competitors and market trends. To do this correctly, you need data and business intelligence. Making strategic and tactical decisions on a simple hunch can lead to a decline in the bottom line and even lower employee satisfaction. Incorporating data analytics into your planning process minimizes risk. Making better business, financial, and operational decisions can not only improve profits, but can contribute to employee empowerment and morale.