Decision-Making in the News
March 29, 2018
Smart management knows that groupthink is not a good thing. And when considering that business strategy is often the topic at hand, it can even prove dangerous to a company’s long-term financial health.
March 28, 2018
Becoming a master at the Art of Decision-making cascades through everything you do. It's not incremental growth in your knowledge, it's exponential growth. Einstein described the power of compounding as the "eight wonder of the world" — and if you've ever crunched some numbers on a compound interest calculator you know how powerful compounding can be over time.
March 22, 2018
Like us, honeybees have essential criteria that a home must conform to such as size, volume, orientation, entry size and security, insulation characteristics, proximity to food and other features. The swarms that make bad decisions regularly perish within 12 months. So it’s a complex calculation with many trade-offs and compromises necessary, since there are very few perfect choices. It is very similar to any town having to evaluate a complex capital expense plan like a school or other facility.
March 20, 2018
AI systems can identify a solution faster than the human brain, but how much of the decision-making process should be delegated to AI? Are there some decisions that should always be reserved for humans?
March 15, 2018
The American Psychiatric Association developed an evaluation framework that uses a four-stage hierarchical process model to help clinicians evaluate and make informed decisions regarding mental health smartphone apps, according to a column published in Psychiatric Service.
March 13, 2018
“A multi-criteria decision analysis model was developed based on six factors: water table, groundwater use, surface water use, hot spots of water use area, distance to river and soil permeability,” she said. “Fuzzy logic techniques were used to compute the probability of over-extraction in the study area.”
March 8, 2018
As we enter 2018, the opportunities to utilize AI to augment human capabilities have never been greater. But while dominating a game of chess is one thing, the bigger question remains: Has AI come far enough to be entrusted with far more important, life-and-death decisions?
March 1, 2018
The speed at which change is now manifesting itself is a real problem for boardrooms across the globe. As organizations struggle to keep up, they often fail to put a structure in place that allows for quick responses to market shifts in an effective and profitable way. Reluctance to change is threatening to become a pandemic that kills off a significant proportion of businesses that are thriving today.
February 28, 2018
When managers want employees to come up with breakthroughs, they need to give people some time alone to ponder their craziest of ideas and follow their paths of association into unknown terrain. They should be urged to come up with ideas freely, without fear of judgment.
February 27, 2018
Although evidence clearly contributes to thoughtful policy-making, evidence cannot and should not drive policy decisions. When we make decisions, or policies, we are driven by a desire to achieve a set of goals.