Use data and intuition to make decisions

Think about the decision you made and answer the following questions:

  • Describe the situation leading up to the decision.
  • What process did you use to gather the information that was used in making the decision?
  • When did you recognize that you had sufficient information to make the decision?
  • To what extent did you rely on information from records, reports, etc.?
  • Did you seek advice from colleagues before making the decision?
  • Were you pleased with the outcome that resulted from the decision?

Mark Mallinger and Matt Stefl write, "Data provide the promise of certainty. However, in business, certainty is not too dissimilar from a desert oasis; pursuing it typically results in disappointment." Read the article below.

 Why should data be regarded as a tool to help make decisions rather than the foundation of decision-making?