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)
Clay --

The customers agreed to the $10.95/month Hurst insurance premium initially. But seeing that cost on the credit card bill every month caused them to drop it.

Posted by steve m | Wednesday, March 02 2011 at 5:02PM ET
Great article and example on how to use data to improve business results, but I agree with the commenter above that it draws a false distinction. The point is to use understanding of the data to improve hypotheses, not to abandon the scientific method. The article doesn't describe them, but might some of the silicon-derived ideas bombed out in practice as well?
Posted by Bob L | Thursday, March 03 2011 at 6:36AM ET
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