Saturday, October 22, 2016

Combining Intuition and Analysis

We live in an age of big data.  People have become enamored with the use of analytics to solve complex problems and to make better decisions.  I'm a big believer in analytics, but I hope we don't forget that intuition does play an important role in decision-making processes.   In the video below, I explain briefly what intuition is and how it works.  



How can we combine intuition and analysis to help us make better choices?  Here are four ways that the two modes of thinking can complement one another.  
  1. Use analysis to check your intuition, but not simply to justify decisions that have already been made 
  2. Use intuition to validate and test the assumptions that underlie your analysis 
  3. Use analysis to explore and evaluate intuitive doubts that emerge as your prepare to make a decision 
  4. Use the intuition of outside experts to probe the validity of your analysis

1 comment:

Jeff S said...

My graduate class on Strategic Information Management is covering the topic of "Big Data" this week so this post is very timely!