scholarly journals DATA-DRIVEN ANALYTICS IN THE DECISION-MAKING PROCESS: DO WE STILL NEED INTUITION?

2021 ◽  
Vol 56 (4) ◽  
pp. 70-81
Author(s):  
Elfindah Princes ◽  
Wibowo Kosasih
Keyword(s):  
Decision Making ◽  
Qualitative Method ◽  
Gold Mining ◽  
Business Leaders ◽  
Data Driven ◽  
Decision Making Process ◽  
Social Approach ◽  
Business Decision ◽  
The Future ◽  
Analytic Skills

When people discuss how machines will replace humans in the future, it is no longer a new phenomenon. Numerous studies, both old and new, have shown that machines are far more reliable than humans and that machines outperform humans in every way possible. However, these facts do not correspond to reality, in which leaders are forced to think beyond what they can see during the business decision-making process. The future necessitates ingenuity and, at times, absurd decisions. What we see in the markets these days is stuff we cannot even imagine. Machines are powerless because they can only predict when data sources are available, and the future requires more than data. Future decision-making, on the other hand, necessitates intuition. This study emphasizes the importance of incorporating intuition capabilities into the business decision-making process and a specific context in which intuition works best. This study uses a qualitative method by choosing five prominent and successful Indonesian business leaders as key information sources from 15 companies interviewed. The findings indicate that both analytics and intuition are essential in business decision-making. To use them effectively, we must understand when to use them separately and when to combine them. This research proves that in the recent big data world where data are considered the new gold mining, data-driven analytics alone cannot provide sufficient sources for the business decision-making process unless intuition is added. Therefore, business leaders should be equipped with intuitive skills to supplement their analytic skills when they do not have supporting data. This study has several limitations. First, this research is conducted in the context of a business process, which may yield different results in the context of a service, which necessitates a more social approach. Second, there is no precise proportion for defining a successful combination of intuition and analytics.

scholarly journals Data competence maturity: developing data-driven decision making

2018 ◽  
Vol 11 (2) ◽  
pp. 139-158 ◽  
Author(s):  
Thomas G. Cech ◽  
Trent J. Spaulding ◽  
Joseph A. Cazier
Keyword(s):  
Decision Making ◽  
Secondary Education ◽  
Data Science ◽  
Data Driven ◽  
Decision Making Process ◽  
Maturity Model ◽  
Data Driven Decision Making ◽  
Content Type ◽  
Development Data ◽  
Education Performance

Purpose The purpose of this paper is to lay out the data competence maturity model (DCMM) and discuss how the application of the model can serve as a foundation for a measured and deliberate use of data in secondary education. Design/methodology/approach Although the model is new, its implications, and its application are derived from key findings and best practices from the software development, data analytics and secondary education performance literature. These principles can guide educators to better manage student and operational outcomes. This work builds and applies the DCMM model to secondary education. Findings The conceptual model reveals significant opportunities to improve data-driven decision making in schools and local education agencies (LEAs). Moving past the first and second stages of the data competency maturity model should allow educators to better incorporate data into the regular decision-making process. Practical implications Moving up the DCMM to better integrate data into their decision-making process has the potential to produce profound improvements for schools and LEAs. Data science is about making better decisions. Understanding the path laid out in the DCMM to helping an organization move to a more mature data-driven decision-making process will help improve both student and operational outcomes. Originality/value This paper brings a new concept, the DCMM, to the educational literature and discusses how these principles can be applied to improve decision making by integrating them into their decision-making process and trying to help the organization mature within this framework.

scholarly journals Analysis of Decision Making Process in Moneyball: The Art of Winning an Unfair Game

The Winners ◽  
2015 ◽  
Vol 16 (1) ◽  
pp. 57
Author(s):  
Mochamad Sandy Triady ◽  
Ami Fitri Utami
Keyword(s):  
Decision Making ◽  
Excellent Result ◽  
Data Driven ◽  
Decision Making Process ◽  
Data Driven Decision Making ◽  
General Manager ◽  
Use Of Data ◽  
Bottom Position ◽  
Using Data ◽  
Baseball Team

Billy Beanes’s success in using data-driven decision making in baseball industry is wonderfully written by Michael Lewis in Moneyball. As a general manager in baseball team that were in the bottom position of the league from the financial side to acquire the players, Beane, along with his partner, explored the use of data in choosing the team’s player. They figured out how to determine the worth of every player.The process was not smooth, due to the condition of baseball industry that was not common with using advanced statistic in acquiring   players. Many teams still use the old paradigm that rely on experts’ judgments, intuition, or experience in decision making process. Moneyball approached that using data-driven decision making gave excellent result for Beane’s team. The team won 20 gamessequently in the 2002 season and also spent the lowest cost per win than other teams.This paper attempts to review the principles of Moneyball – The Art of Winning an Unfair Game as a process of decision making and gives what we can learn from the story in order to win the games, the unfair games.

scholarly journals Executive decision-making in fashion retail: a phenomenological exploration of resources and strategies

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Danielle Sponder Testa ◽  
Elena E. Karpova
Keyword(s):  
Decision Making ◽  
Academic Research ◽  
Phenomenological Approach ◽  
Study Data ◽  
Decision Making Process ◽  
Business Decision ◽  
Content Type ◽  
External Data ◽  
Executive Decision Making ◽  
Fashion Retail

PurposeDecision-makers must be well-informed to successfully impact the future of the business. The purpose of this study was to explore experiences of US fashion retail executives when making business decisions to understand what resources and strategies are utilized within the decision-making process. Additionally, the role of academic research within executive decision-making process was explored.Design/methodology/approachThis study utilized a phenomenological approach to understand the experiences of fashion retail executives when engaging in business decision-making. Fifteen US fashion retail executives participated in the study. Data were collected through in-depth individual interviews and thematically coded to gain a holistic perspective of the decision-making process within the fashion retail industry.FindingsAs the result of the data analysis and interpretation, three topical areas emerged:: “Incredible Amounts of Information,” “Industry Specific Academic Research” and “Have a Clear Road Map.” The findings suggested that while the facts gleaned from internal and external data are of great importance to fashion professionals, insights gathered from social media are equally influential within the decision-making process. The authors identified five major strategies utilized consistently by fashion retail executives regardless of the type of business they represented: collaboration, adaptability, speed, gut instinct and creativity.Research limitations/implicationsThe results are important to fashion retail companies for improving internal decision-making processes. The identified resources and strategies of the decision-making process can be incorporated into fashion program curricula and considered as learning outcomes when preparing future industry professionals.Originality/valueLimited studies have explored the decision-making process specific to the fashion retail environment, an uncertain and ever-changing industry. Further, the study shed light on the opportunity for academic research use in fashion retail decision-making and contributes to the literature by developing a fashion retail decision-making model.

ADOLESCENTS’ DECISION-MAKING AND ATTITUDES TOWARDS ABORTION IN NORTH-EAST BRAZIL

2002 ◽  
Vol 35 (1) ◽  
pp. 71-82 ◽  
Author(s):  
PATRICIA E. BAILEY ◽  
ZENILDA V. BRUNO ◽  
MARIA F. BEZERRA ◽  
IVANY QUEIRÓS ◽  
CRISTIANA M. OLIVEIRA
Keyword(s):  
Decision Making ◽  
Decision Making Process ◽  
Prenatal Visit ◽  
The Third ◽  
Unintended Pregnancies ◽  
North East ◽  
The Future ◽  
Adolescent Attitudes ◽  
Post Abortion

Three groups of adolescents are compared with regard to their own considerations of abortion and when they believe abortion is justified. One group of adolescents terminated their pregnancies (n=95), a second became pregnant and carried their pregnancies to term but considered abortion (n=68), and the third also carried their pregnancies to term but did not consider abortion (n=204). The study was carried out between 1995 and 1998 in Fortaleza, Brazil. Adolescents were interviewed at the time of their hospitalization or their first prenatal visit and again at 6 weeks and 1 year post-abortion or postpartum. Friends and family recommended abortion to at least half of the teenagers in each group. Teenagers who aborted were more accepting of abortion than those who did not abort, while those who considered abortion found the practice more justified than those who did not consider abortion. Teenagers who aborted became less accepting a year later, while those who did not consider abortion became more accepting. A better understanding of adolescent attitudes towards abortion and their decision-making process should help adults and professionals meet the needs of adolescents for support in the process and in the reduction of the number of unintended pregnancies in the future.

Evaluation of the adaptive reuse potential of historic buildings and proposition of preventive-protective measures

2020 ◽  
Vol 38 (3) ◽  
pp. 493-507
Author(s):  
Ali Asghar Sharifi ◽  
Amir Hossein Farahinia
Keyword(s):  
Decision Making ◽  
Design Methodology ◽  
Qualitative Method ◽  
Adaptive Reuse ◽  
Decision Making Process ◽  
Historic Buildings ◽  
Protective Measures ◽  
Content Type ◽  
Viable Solution ◽  
Useful Life

PurposeThis study aims to render a pattern for heritage restoration in the context of reusing historic buildings, to assist the authorities with decision-making process on the most appropriate time during the building’s life cycle. Here, the adaptive reuse potential (ARP) model is used to find the most appropriate time for adaptive reuse and calculating the useful life as well as the potentiality of the Amir Nezam House so a viable solution can be put forward.Design/methodology/approachIn this research, a quantitative and qualitative method is adopted to evaluate the useful life and potentiality of the Amir Nezam House of Tabriz to determine the most appropriate time for next intervention.FindingsResults show that the potential (ARP score) of the Amir Nezam House is increasing, the value of which will be greater than 50 percent by the next few years. Evaluations show that the most appropriate time for further intervention is the year 2035.Originality/valueThe significance of this research lies within the objective of proposing a preventive and protective schedule for historic buildings before they reach their life expectancy with an emphasis on environmental, economic, social and functional sustainability as well as environmental impacts. ARP model has been applied to implement this concept in the Amir Nezam House, Tabriz, Iran.

Is there Life after Kohl? The CDU Crisis and the Future of Party Democracy in Germany

2000 ◽  
Vol 35 (4) ◽  
pp. 419-438 ◽  
Author(s):  
Ludger Helms
Keyword(s):  
Decision Making ◽  
Party System ◽  
National Level ◽  
State Level ◽  
Decision Making Process ◽  
Dominant Position ◽  
Christian Democratic Union ◽  
The Future ◽  
Christian Social Union ◽  
The Individual

There are few Chapters of the Federal Republic'S History that could be written without a prominent reference to the Christian Democratic Union (CDU). Since 1949 Christian Democratic chancellors have led German governments for no less than 37 years. Even when in opposition, the Christian Democrats - composed at the national level of the CDU and the Bavarian Christian Social Union (CSU)1 - constituted more often than not the strongest parliamentary party group (Fraktion) in the Bundestag, such as after the federal elections of 1969, 1976 and 1980. Also at state level and in the Bundesrat, which represents the individual states (L-nder) in the national decision-making process, the Christian Democrats quite often held a dominant position justifying occasional remarks of a ‘CDU/CSU bias’ within the German party system.

Directors’ disqualification: insolvency practitioners and the decision-making process

Legal Studies ◽  
1995 ◽  
Vol 15 (2) ◽  
pp. 283-305 ◽  
Author(s):  
Sally Wheeler
Keyword(s):  
Decision Making ◽  
Decision Making Process ◽  
Secretary Of State ◽  
The Future ◽  
Company Directors ◽  
The Subject

The Company Directors Disqualification Act 1986 (CDDA) instituted, inter alia, a mechanism whereby directors of failed companies can be disqualified from holding office in the future as the result of an application to the court by the Secretary of State, or in the case of compulsory liquidators, the official receive and a subsequent finding by the court that the director is unfit. The operation and effect of the CDDA has been the subject of speculation in the national press, other media and comment from insolvency practitioners since its inception. Most of this comment has focused on the role of the DTI and on its perceived failure to take steps to disqualify directors in sufficient numbers.

scholarly journals Acceptance of Selected Returning Birds and Mammals through the Eyes of Secondary School Students

Envigogika ◽  
2019 ◽  
Vol 14 (2) ◽  
Author(s):  
Jan Andreska ◽  
Adéla Hartlová ◽  
Matouš Žmolil
Keyword(s):  
Decision Making ◽  
Young People ◽  
Secondary School ◽  
Secondary School Students ◽  
Decision Making Process ◽  
Grammar School ◽  
Vertebrate Species ◽  
School Students ◽  
The Future ◽  
The Right

The presented study discusses the phenomenon of acceptance of returning higher vertebrate species to the Czech countryside, both from the perspective of grammar school students, who can further study the environmental protection and facilitate the return of some vertebrates, and students of secondary forestry schools, expected to engage in hunting care in the future. The attitude of students and young people, in general, is very important for the acceptance of the discussed species, as not only the politicians and publicists have the right to influence the general public, but rather the specialists educated in the field should participate in the decision-making process affecting the future of these animals. Overall, the work develops a hypothesis that people may have misconceptions about the return of some vertebrates as, rather than focusing on general facts, they are influenced by frequently hyped points, such as the fear and concern of aggrieved farmers, the overpopulating of some species and the infectious diseases that some animals may transmit. A questionnaire was designed and circulated to obtain the required data. For general simplification, only three options were presented in the questionnaire, either positive, negative, or neutral attitude as further structuring could compromise the clarity of the results.

scholarly journals PROSES PENGAMBILAN KEPUTUSAN PEMBELIAN SAYURAN HIDROPONIK DI KOTA BANDAR LAMPUNG

2019 ◽  
Vol 2 (1) ◽  
Author(s):  
Sutarni Sutarni ◽  
Luluk Irawati ◽  
Bina Unteawati ◽  
Clara Yolandika
Keyword(s):  
Decision Making ◽  
Consumer Behavior ◽  
Information Search ◽  
Qualitative Method ◽  
Decision Making Process ◽  
Purchasing Decisions ◽  
Alternative Evaluation ◽  
Purchasing Decision ◽  
Post Purchase ◽  
Method Approach

The purpose of this study is to describe the decision making process of purchasing hydroponic vegetables. This research conducted in Bandar Lampung City. The study was conducted on 42 consumers of hydroponic vegetables and 42 non-hydroponic consumers. This research requires a qualitative method approach. Analysis of the stages of consumer purchasing decision-making process used to determine consumer behavior in making purchases of hydroponic and non hydroponic vegetables. Stages in the process of making consumer purchasing decisions in choosing commodities include the introduction of needs, information search, alternative evaluation, purchasing decisions, and post-purchase evaluation.Keywords: Decission Making, Hydroponic, Vegetable

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