E-grāmata: Bursting the Big Data Bubble: The Case for Intuition-Based Decision Making

"Preface Why a book on intuition-based decision making? Is it because a November, 2012 research study at Tel Aviv University found that executives were 90% accurate in their decisions when relying on just their intuition? Is it because, according to Akinci and Sadler-Smith's 2011 historical review of "Intuition in Management Research," intuition research in management has been conducted since the 1950s and there continues to be a need for greater cross-disciplinary collaboration and integration? Or perhaps do we want to challenge the "Big Data" community to show, as evidenced by Woiceshyn's 2009 research on how CEOs use intuition, that intuition should also be applied to complement rational analysis? Daniel Kahneman talked about the two systems (System 1as intuition and System 2 as deliberative thinking) and their interaction. In Moxley et al.'s 2012 research on these two systems, their finding was that both experts and less skilled individuals benefit significantly from extra deliberation no matter howeasy or difficult the problem. This book does not assume that "rational thought," or data-based decision making, should not be used when making decisions, especially those that are important and complex. However, the book wants to emphasize further the importance of applying intuition, gut feel, spirituality, experiential learning, and insight as key factors in an executive's decision-making process"--

"With the onslaught of the Big Data revolution, data-based decision making and analytics are now the rage. However, many key decision makers often make complementary judgments based on intuition. This intuition is often insight-based due to their experiential learning, ephemeral factors like spirituality, and other related factors. This book focuses on this intuition-based decision making. It presents stories and vignettes from leaders and senior executives in industry, academe, government, and not-for-profits"--

As we get caught up in the quagmire of Big Data and analytics, it remains critically important to be able to reflect and apply insights, experience, and intuition to your decision-making process. In fact, a recent research study at Tel Aviv University found that executives who relied on their intuition were 90 percent accurate in their decisions.

Bursting the Big Data Bubble: The Case for Intuition-Based Decision Making focuses on this intuition-based decision making. The book does not discount data-based decision making, especially for decisions that are important and complex. Instead, it emphasizes the importance of applying intuition, gut feel, spirituality, experiential learning, and insight as key factors in the executive decision-making process.

Explaining how intuition is a product of past experience, learning, and ambient factors, the text outlines methods that will help to enhance your data-driven decision-making process with intuition-based decision making. The first part of the book, the "Research Track", presents contributions from leading researchers worldwide on the topic of intuition-based decision making as applied to management.

In the second part of the book, the "Practice Track," global executives and senior managers in industry, government, universities, and not-for-profits present vignettes that illustrate how they have used their intuition in making key decisions.

The research part of the book helps to frame the problem and address leading research in intuition-based decision making. The second part then explains how to apply these intuition-based concepts and issues in your own decision-making process.