So what’s the best way to make important decisions? Hunches? Intuition? Magic 8 Ball? Or relying on data analysis to reveal the best choice? Ok, it’s kind of a stupid question; most anyone answering it seriously will say, “Yeah, of course you want to use data to figure out what to do, you dumbass.” (Not that everyone would call me a dumbass in their response – just the people who know me personally).
While everyone says that using data to make decisions is the only way to manage, I’d submit that very few organizations actually do it. I mostly see firms relying on hunches and intuition, and then using data (if forced to; they often don’t) to justify, adjust, and calibrate the course of action that they’ve already decided to pursue.
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