Saturday, June 24, 2017
Decison Making and accountability in the Times of Big Data and Analytics
( Book Excerpt ) Decision Making mixup in Big Data & Techie Times
" Managing decisions "
By: AARON DE SMET ET AL
It’s the best and worst of times for decision-makers. Swelling stockpiles of data, advanced analytics and intelligent algorithmsare providing organisations with powerful new inputs and methods for making all manner of decisions.
Corporate leaders also are much more aware today than they were 20 years ago of the cognitive biases — anchoring, loss aversion, confirmation bias and many more — that undermine decision-making without our knowing it.
Some have already created formal processes — checklists, devil’s advocates, competing analytic teams and the like — to shake up the debate and create healthier decision-making dynamics.
Now for the bad news. In many large global companies, growing organisational complexity, anchored in strong product, functional and regional axes, has clouded accountabilities.
That means leaders are less able to delegate decisions cleanly, and the number of decisionmakers has risen.
The reduced cost of communications brought on by the digital age has compounded matters by bringing more people into the flow via email, and internal knowledge-sharing platforms.
The result is too many meetings and email threads with too little high-quality dialogue.
The untangling solution: to become flatter and more agile, with decision authority and accountability going hand in hand.
Excerpted From “Untangling Your Organisation’s Decision-Making”
" Managing decisions "
By: AARON DE SMET ET AL
It’s the best and worst of times for decision-makers. Swelling stockpiles of data, advanced analytics and intelligent algorithmsare providing organisations with powerful new inputs and methods for making all manner of decisions.
Corporate leaders also are much more aware today than they were 20 years ago of the cognitive biases — anchoring, loss aversion, confirmation bias and many more — that undermine decision-making without our knowing it.
Some have already created formal processes — checklists, devil’s advocates, competing analytic teams and the like — to shake up the debate and create healthier decision-making dynamics.
Now for the bad news. In many large global companies, growing organisational complexity, anchored in strong product, functional and regional axes, has clouded accountabilities.
That means leaders are less able to delegate decisions cleanly, and the number of decisionmakers has risen.
The reduced cost of communications brought on by the digital age has compounded matters by bringing more people into the flow via email, and internal knowledge-sharing platforms.
The result is too many meetings and email threads with too little high-quality dialogue.
The untangling solution: to become flatter and more agile, with decision authority and accountability going hand in hand.
Excerpted From “Untangling Your Organisation’s Decision-Making”
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