Going Beyond Data in Decision Making
Data analysis is an important element in making informed decisions, but not the only one
Leaders have access to an ever-growing sea of data to inform their decisions. But data is subject to bias, may not tell the whole story and doesn’t always predict the future, especially as the world becomes more uncertain. That means relying only on data could lead organizations down the wrong path.
Data-based decision making is a powerful strategy, but leaders are more likely to unlock their organizations’ full potential by using data in tandem with other insights that may feel less concrete but are still valuable.
“The limitation is that you never have enough data,” said Meredith Low, a strategy and governance consultant who has experience with associations. “You still have to overlay judgment, intuition, and preferences on top of data.”
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