From the course: Decision Intelligence
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Upgrade 3: Data-driven decisions
From the course: Decision Intelligence
Upgrade 3: Data-driven decisions
- Businesses are hiring data scientists in droves to make rigorous, scientific, unbiased data-driven decisions. And now the bad news, those decisions usually aren't. For a decision to be data-driven, it has to be the data as opposed to something else entirely that drives it, which seems like such a straightforward idea and yet it's so rare in practice because decision makers lack a key psychological habit. Imagine you're considering buying something online. You've boiled your decision down to whether you trust the online seller or not. A quick search yield some relevant data. You see that the seller has an average rating of 4.2 stars out of five. Well, now you can't use that 4.2 to drive your decision. Game over. Once you've seen the answer, you're free to pick the most convenient question. If the first thing you do is poke around in your data, then your decision will be at best something that I like to call data…
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