MAR 1, 2011 9:21am ET

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Science of Business vs. Evidence-Based Management

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I've written a lot over the past couple of years on the science of business and evidence-based management. In my "Science of Business Manifesto" blogs a few months back, I used EBM as a synonym for the SOB, drawing on the connotations of both to the conduct of business by the rigorous formulation, measurement, testing and evaluation of alternative courses of action. But a recent interview/article in the MIT Sloan Management Review, “Matchmaking With Math: How Analytics Beats Intuition to Win Customers,” is making me question whether there might be a nuanced difference between the two that's important for BI.

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Comments (12)
I'm confused on how what the Hurst describes they were originally doing is actually an example of the top-down hypotheses-driven approach. They were operating based on conventional wisdom and were not actually doing step 1 of the algorithm for science.
Posted by James W | Wednesday, March 02 2011 at 1:44PM ET
This example should encourage many organizations to try similar exploratory analytics. In some cases such hypothesis-free explorations could make the world a better place, and not just profit a business.
Posted by Alan M | Wednesday, March 02 2011 at 1:52PM ET
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