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Mercredi 5 Mars 2014

The Financial Year Links | The benefits—and limits—of decision models


McKinsey Quaterly.



Big data and models help overcome biases that cloud judgment, but many executive decisions also require bold action inspired by self-confidence. Here’s how to take charge in a clear-headed way.

The growing power of decision models has captured plenty of C-suite attention in recent years. Combining vast amounts of data and increasingly sophisticated algorithms, modeling has opened up new pathways for improving corporate performance.1 Models can be immensely useful, often making very accurate predictions or guiding knotty optimization choices and, in the process, can help companies to avoid some of the common biases that at times undermine leaders’ judgments.

More:
www.mckinsey.com/Insights/Strategy/The_benefits_and_limits_of_decision_models?cid=other-eml-alt-mkq-mck-oth-1402


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