Wednesday, June 5, 2024

Better Decisions with Data: Asking the Right Question - Stefano Puntoni and Bart De Langhe, Knowledge at Wharton

Many leaders excessively rely on existing data that may or may not address the issue at hand, or they pass key decisions to data scientists who don’t really understand the business dilemma they are trying to solve. Decision-makers are also prone to leading with a preference, arriving at a solution, and then finding the data to back it up. Alternatively, decision-driven analytics puts decision-makers at the center, resolving the common mismatch between analytics and actual business decisions. It starts from the decision that needs to be made and works backward toward the data that is needed. But it also requires more from leaders, who must shift the focus from getting answers to asking the right questions.