Improvedecisioneffectiveness

An effective decision can be defined as an action you take that is logically consistent with the alternative you perceive, the information you get, and the preference you have.

Decision making is in less mathematical or fancy methodological consideration but as a sociological problem. With fast growing information, there is evidence that business professionals, managers/leaders who leverage fact based analytics with an evidence-based approach to decision making do better than those that don't.

Analytics with the right dose of quality data improves decision effectiveness: Analytics must drive employee decisions in the field without disclosing too much data, but "just enough" to help staff improve by small steps. The principle is to have the right dose of quality and secure data, turn data into information into knowledge, insight, and wisdom, and make the right decisions at the right time by the right people to solve the right problems. This leads to more fact-based decisions being embraced and implemented by the business.

Either individually or collectively, smart businesses leverage information to make better decisions, capture market foresight and customer insight for grasping growth opportunities or managing risks timely, accelerate the speed for bringing ideas to market and achieving their commercial business value. Your gut feeling will also play a role in the decision making scenario. If the decision-making process is well designed & well executed, you have the highest probability of getting the best outcome.

The structural decision-making processes are not linear steps, but iterative continuum: Structural decision-making includes understanding the need, engaging key stakeholders, ensuring effective communication, assessing alternatives, developing consensus for improving decision making coherence. Digital leaders and professionals need to develop their own language, make the proper framing in order to access the process of understanding each other with profundity for making sound judgments or leading effective decisions in a structural way.

Either digital leaders or workers today must apply multi-intelligence properly and practice structural decision-making all the time. It is critical to know that inappropriate framing is the root cause of worst decisions and immature problem-solving. It is important to surround yourself with others who complement your cognitive strength and knowledge in order to understand the “two side of the story” for decision-making. Effective decision makers gain collective wisdom and come up with premium answers.

Contextualization is about broadening interdisciplinary perspectives which leads to true understanding and decision coherence: Business context aids leaders in understanding what’s relevant and what’s not; each of these contexts requires in-depth digital insight both inside-out and outside-in for improving decision effectiveness. The variety of perspectives opens our mind, shifts our personal truth to the approximately universal truth, to reach the state of super consciousness for improving decision maturity.

Contextual understanding of the interrelationships and correlations of complex things offer access to new perspectives and new insights, and interpreting them in a cohesive way. It is about having business context; gaining an in-depth understanding of specific cause and effect in a specific context or the core issue of the situation which leads to a better decision-making.

An effective decision can be defined as an action you take that is logically consistent with the alternative you perceive, the information you get, and the preference you have. The principle is to have the right dose of quality and secure data, turn data into information into knowledge, insight, and wisdom, enabling fact based decision-making. There are many decision-making methods, tools, and practices, select the right one to improve decision consistency and maturity.

Posted in: Business Intelligence,Decision Making