Tom Davenport, President’s Chair in Information Technology and Management at Babson College, recently wrote about the importance of “ambidextrous judgment,” using both data analytics and business intuition to push your organization forward. Davenport uses examples from Harrah’s, Netflix, and others to demonstrate companies’ increased focus on working to combine data with business intuition in their decision-making process. It appears as though traditional “data miners” are looking to build subjective creativity and intuitive courage, while “gut feel” executives are realizing that near- and real-time data can provide valuable prediction tools.
MREB view: We could not agree more that combining traditional data analysis with intuition leads to better business decisions. In fact, a few years ago we conducted a survey to identify the drivers of insight productivity, and working in an environment that rewards risk-taking and encourages intuitive creativity was one of the four main factors evident in more insightful researchers. (MREB members, read more about this and the other 3 drivers of insight productivity here.) Read More »