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Do Executives Trust Data or Intuition in Decision-Making?


While business executives worldwide are making decisions based on data, they are still pitting this against their intuition, according to a new report by the Economist Intelligence Unit and commissioned by Applied Predictive Technologies.

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Comments (5)
if they're smart, they trust their intuition about the people supplying the data and results . . . if they trust the people, they put more credence to the results - if they don't, then the analysis was a waste of time -
Posted by Charles P | Tuesday, June 10 2014 at 11:05AM ET
the ability to know or understand something immediately, without the need for conscious reasoning is intuition. However, we easily forget that intuition, which is depends on the unconscious mind, which processes a different kind of "data" by searching through the experiences from the past, present, and possible future, connecting with hunches and feelings in a nonlinear way, to arrive at conclusions. Therefore, while real data can help predict certain outcomes, it is important to apply our intuition to the final edict from the data. In some instances, our intuition may suggest a different outcome, which may help review errors in the data collection and/or analysis. It is advisable to use them in a complimentary manner and not as mutual exclusives.
Posted by ALBERT E | Tuesday, June 10 2014 at 1:07PM ET
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