Making decisions - Using intuition, experience and/or big data?
According to a recent PWC Report (The Netherlands) intuition and experience still beat big data in the process of making management decisions.
Results of the survey
30% Trusting on their own intuition
28% Trusting on their own intuition and/or experience of others
30% Trusting on results of big data
9% Trusting on financial indicators
46% thinks that making a decision which is based on the results of big data will have a negative results, because of the fact that the data quality is low…. Data is not complete nor accurate.
Read more: PwC: Intuïtie en ervaring verslaan big data | Nieuws | Computable
Personal note:
I wonder if a simulation will present the same results, because the managers and big data are using the same data. They are competing on an equal playing field at this point.
The question is if intuition and experience will beat machine and mathematical models....
People do not (always) make an objective decision and are watching the world through their own 'pink glasses'.
They have not offered proof of infailable qualitative decisions yet.
On the other hand, mathematical models might not be capable to capture reality in model (yet) but they are in a sense objective because they lack ego which is playing tricks with the mind of people....
