Evidence-based decision-making

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We all know this ideal is far from reality, but in Is Decision-Based Evidence Making Necessarily Bad?, Sloan Mgmt Review offers 3 levels to define the role of evidence: 

  • to make a decision – when data really does lead to a decision
  • to inform a decision – when other factors such as judgment and bargaining play a role too
  • to support a decision – when data is looked for that confirms the decision, and crucially, when disconfirming evidence is avoided or rejected.

They ...

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Analysis-based strategy

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In Sloan Mgt Review Thomas Davenport of Babson College and Jeanne Harris of Accenture’s Institute For High Performance Business in What People Want Next (and How to Predict It) show how firms like Amazon.com use unprecedented data and sophisticated technology to inform decisions as never before. Great to see so much being written now about powerful strategic management being driven by data and analysis, not just gut and emotion [has anyone done ...

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How companies make good decisions

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McKinsey asked senior managers in companies that made good and bad decisions about their decision-making processes: who was involved, what drove the decisions, the analysis done, role of politics etc. Good to hear that hard benefits – like profits! – featured in successful decision-making disciplines. Article. More support for evidence-based management I guess.

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