The Decision Maker

Getting Intuit

Posted by Aaron Wang on May 23, 2012 10:06:25 AM

In my April 12 blog, How Do They Decide , I noted three decision making styles in an organization:

  1. Unquestioning Empiricists – data-based decision making only
  2. Visceral Decision Makers –intuition is the usual decision-driver
  3. Informed Skeptics – balance facts and intuition (the optimal style)

The last style, Informed Skeptics, is the best since analysts with this profile balance facts and intuition thereby employing a more balanced approach to decision making.

This runs counter to current trends suggesting fact-based decision making alone is the Nirvana toward which all innovative analytics is moving. Purists contend any amount of intuitive thinking is “backsliding” toward an outmoded style.

Yet, a data-based decision making only approach can be risky, too. In the era of “Big Data”, the danger of “analysis paralysis” has never been greater.

A strong streak of intuition can actually be pragmatic. There is point where the ratio of information gathering cost and optimization of decision value reach a balance. An Informed Skeptic is best equipped to perceive when that balance is struck and a decision needs to be made.

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