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 think the article hit it right on. SOB is top down. EBM is bottom up. There is likely an interplay between them. SOB gives you a framework within which to create tests for hypotheses. EBM provides the ability to generate new data-driven hypotheses while also measuring planned test results.
Posted by David R | Thursday, March 03 2011 at 9:17AM ET
There is more than one approach to doing science. The initial work done at Assurant has much in common with observational studies; finding what is really going on, independent of any particular hypothesis about why or how reality is what it is. Many practical advances can be made based on observation, even without an underlying theory.
Posted by Julian S | Monday, February 17 2014 at 2:28PM ET
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