The leading traits of executives often include creativity and innovation. Research shows that intuition can significantly enhance to these traits. Developing intuitive executives and honing intuition, coupled with the ability to apply data and evidence to inform decision making, is the focus of Developing the Intuitive Executive: Using Analytics and Intuition for Success.
Some researchers call the complement of applying data analytics to intuition as quantitative intuition, rational intuition, or informed intuition. Certainly, in today's data-driven environment, analytics plays a key role in executive decision-making. However, an executives many years of experiential learning are not formally considered as part of the decision-making process. Learning from both failures and successes can help fine-tune intuitive awarenesswhat this book calls intuition-based decision-making. Research also shows that many executives do not trust the internal data quality in their organizations, and so they rely on their intuition rather than strictly on data.
This book presents the work of leading researchers worldwide on intuition in the management and executive domain. Their chapters cover key issues, trends, concepts, techniques, and opportunities for applying intuition as part of the executive decision-making process. Highlights include:
- Using intuition to manage new opportunities
- Intuition in medicine
- Rules based on intuition
- Balancing logic and intuition in decision-making
- Smart heuristics to manage complexity
- Intuition and competitiveness
- Intuitive investment decision-making across cultures
Showing how intuition in executive decision making should play an important role, this book enables managers to complement their knowledge gained from experience with analytics to improve decision-making and business success.
A recent study found that most business leaders believe in the value of using data and analytics, but say they lack confidence in measures of their effectiveness. In the data analytics community, intuition has been rarely discussed in executive decision-making. The book examines how well do executives trust their intuition.
