Judgment

It is important to leverage data analysis and inferences in making both strategic and operational decisions in the complex business environment with a high degree of unpredictability and ambiguity.

In the world of uncertainty and ambiguity, today’s business leaders and professionals need to increase their cognitive agility, cultivating a discerning mind that allows you to make better decisions, and choose your steps that are aligned with your inner, core self, and leverage data-based analytics in order to make sound judgments and decide intelligently for solving complex problems.

Critical Thinking: Applying deliberative reasoning and impartial scrutiny of information to arrive at a possible solution to a complex problem .

Breakdown Problems: Deconstruct a problem into its constituent parts to reveal its underlying logic and assumptions.

Acknowledge Biases: Recognize and account for one’s own biases in judgment and experience.

Collect and Assess Evidence: Gather relevant evidence through personal observations, experimentation, or external sources.

Adapt Thinking: Adjust and reevaluate one’s own thinking in response to what one has learned.

Reasoned Assessments: Propose solutions to problems or develop a more accurate understanding of the topic at hand through reasoned assessment.

Rationality: Adhere to normative models from logic, mathematics, and artificial intelligence to guide reasoning.

Probability Theory:  Use probability theory to quantify the likelihood of uncertain outcomes.

Decision Analysis: Choose optimal decisions in the face of uncertainty, considering possible future events and payoffs.

Judgment and decision-making are often considered together. Good judgment is a must for good decisions. It is also important to leverage data analysis and inferences in making both strategic and operational decisions in the complex business environment with a high degree of unpredictability and ambiguity.

Posted in: Big Data,Business Intelligence,Complexity,Decision Making,Digital Fit