How Data Velocity Changes Decisions: The Role of Information Access Speed

Recent technological advancements have enabled more data-driven decision-making across firms. While prior literature highlights the value of using more data, there is less insight on the impact of information speed, particularly how quickly decision-makers can access it. We study how faster information access influences how decision-makers acquire information and make decisions, using data from healthcare. We examine a technology that visually displayed when test results became available, accelerating information access for 64,152 decisions by 387 physicians. Faster access allowed decision-makers to gather less but more targeted information, resolving uncertainty earlier and speeding up decisions, while ultimately improving decision outcomes by supporting more effective information processing. Our findings show that investing in data velocity can yield significant benefits through both faster and better decisions.