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Volume 27, Issue 3

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June 9, 2014

Even Data-Driven Businesses Should Cultivate Intuition

CIO — The desire to make better decisions faster is one of the fundamental drivers of new big data analytics technologies and a general push toward data-driven decision-making. But the relationship between data and intuition — the old 'gut feeling' — is a complicated one, says Peter Swabey, senior editor, technology at the Economist Intelligence Unit (EIU), the research and analysis division of The Economist Group.

"They both play a role," Swabey says. "The process of developing data is the process of trying to identify what the true state is. In identifying that, your intuition could be a useful guide."

In an effort to better understand how business decisions are made, predictive analytics firm Applied Predictive Technologies (APT) asked the EIU to conduct a study, resulting in a report released this week: Decisive action: How businesses make decisions and how they could do it better.

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http://www.cio.com/article/753821/Even_Data_Driven_Businesses_Should_Cultivate_Intuition