Sixty-five percent of executives say that subjective factors such as company culture and corporate values increasingly make a difference when evaluating partnership proposals, according to a study from The Fortune Knowledge Group and ad agency Gyro. Only 16 percent disagreed, per the companies' joint report, which recently surveyed 720 senior business leaders.
In other words, even in the big data era, old-fashioned relationships and other human elements still matter plenty. In fact, 62 percent said it is often necessary to rely on gut feelings and soft, non-statistical factors. When choosing a company to do business with, 70 percent of the survey's respondents cited reputation as the greatest influential element.
"Businesses are attracted to partners who have magnetic cultures," said Christoph Becker, Gyro global CEO. "There is an allure and excitement that comes when two cultures are aligned and collaborating together. After all, business relationships are very much personal relationships."
Check out the report's other key data points in the infographic below.