I just published an article today on Substack focused on data-driven decisions. Studies show that people are often overwhelmed by trying to make decisions using data, and I’ve also seen how it’s sometimes used to push specific narratives. Great article!
Many thanks! I used to be a CEO of a company that was part of a holding company. There was a board of directors in the holding, and there was a guy (with a financial background) who liked to ask us, CEOs, when we discussed our strategies: "Can you PROVE it will work in the future?"
Your story touches a very important topic and you articulated well. Coming from a science and tech background I know that data is only one way of knowledge building. It is overrated and misleading. Interestingly in my research, inventions, and innovation I use intution much more than data. Data does not give me much insights but it is a useful tool if used properly. Finding clean and unbiased data is very difficult. I wrote a lot about this from multiple angles with pros and cons for being a data-driven professional especially in the tech industry where it matters most. Thank you for this insightful and thought-provoking story.
Data can't answer all the questions. It's like a calculator – it can calculate very well, but humans are those who decide what to calculate and when. Many thanks for your support!
All great points. My frustration is with those that cherry pick data using what they like and ignoring what they don’t. Also relying on old data as if nothing changes. Thanks for the post.
Great insights. In particular, this one is quite striking: Pitfall 5: Strategy is about doing what no one has data about.
Many thanks, Gaurav! Yes, if our strategy is innovative, it can't be based solely on solid facts.
I just published an article today on Substack focused on data-driven decisions. Studies show that people are often overwhelmed by trying to make decisions using data, and I’ve also seen how it’s sometimes used to push specific narratives. Great article!
Many thanks! I used to be a CEO of a company that was part of a holding company. There was a board of directors in the holding, and there was a guy (with a financial background) who liked to ask us, CEOs, when we discussed our strategies: "Can you PROVE it will work in the future?"
Did you tell him sure, just let me get my crystal ball out of my pocket! lol
Your story touches a very important topic and you articulated well. Coming from a science and tech background I know that data is only one way of knowledge building. It is overrated and misleading. Interestingly in my research, inventions, and innovation I use intution much more than data. Data does not give me much insights but it is a useful tool if used properly. Finding clean and unbiased data is very difficult. I wrote a lot about this from multiple angles with pros and cons for being a data-driven professional especially in the tech industry where it matters most. Thank you for this insightful and thought-provoking story.
Data can't answer all the questions. It's like a calculator – it can calculate very well, but humans are those who decide what to calculate and when. Many thanks for your support!
All great points. My frustration is with those that cherry pick data using what they like and ignoring what they don’t. Also relying on old data as if nothing changes. Thanks for the post.
Data looks good only when it confirms what we believe in