The effect of individuals’ analytical orientation and capabilities on decision quality and regret

Decision makers are exposed to an increasing amount of information. Algorithms can help people make better data-driven decisions. Previous research has focused on both companies’ orientation towards analytics use and the required skills of individual decision makers. However, each individual can make either analytically based or intuitive decisions. We investigated the characteristics that influence the likelihood of making analytical decisions, focusing on both analytical orientation and capabilities of individuals. We conducted a survey using 462 business students as proxies for decision makers and used partial least squares path modeling to show that analytical capabilities and analytical orientation influence each other and affect analytical decision-making, thereby impacting decision quality and decision regret. Our findings suggest that when implementing business analytics solutions, companies should focus on the development not only of technological capabilities and individuals’ skills but also of individuals’ analytical orientation.

Observations on the Talk and the Walk

This chapter provides basic definitions of diversity, equity, and inclusion (DEI) and identifies skills and competencies necessary for the chief diversity officer (CDO) in higher education, post-2020. Specific concepts from research and industry provide strategies and tactics for the professional stepping into “the work.” This chapter enters the dialogue about DEI from the entry point of consulting as change manager with faculty experience. It proceeds from there to discuss the five terrains of inclusive excellence that offer a new foundation for equity of policy and practice in higher education. The terrains lead into an examination of intersectionality and the work of creating an intentionally diverse community. Decision quality and critical thinking and other competencies for inclusive excellence leadership, such as emotional intelligence and cultural competence, round out the dialogue with specific observations from and suggestions for research and practice.

Product Brokering Efficiency as a mediator of Online Product Recommendation and Customer Loyalty

Marketing strategies in e-commerce have a main goal, that is to pursue customer loyalty. Sociolla is an e-commerce company that sells cosmetic products and has a recommendation feature to make it easier for customers during the shopping process. These recommendations can trigger customer satisfaction and generate loyalty. The purpose of this study was to examine the correlation between online product recommendation and customer loyalty with product brokering efficiency as a mediator. 179 Sociolla customers were recruited in this study using convenience sampling. The data were analyzed using the SPSS-Process Hayes model 4. Results showed that perceived decision quality acts as a mediator in the relationship between enablers and customer loyalty (β = .20, [ .13; .27]). It can be concluded that recommendations that are comprehensive, clear, and meet the customer needs will make it easier for customers to make purchasing decisions, which ultimately leads the customers to form loyalty toward the products.

Development of a fisheye-based information search processing aid (FISPA) for managing information overload in the web environment

Information technologies have proliferated at an unprecedented rate to provide access to information across geographical boundaries. However, this proliferation has led to an information overload. Information overload has adverse impacts on information use and decision quality. This research focuses on the overload problem resulting from a web search, and proposes a potential remedy. We develop the requirements of a system that makes use of clustering and visualization for browsing the results of a typical web search. Based on this model, we develop a prototype that visualizes search results by first organizing them into a hierarchy according to their individual contents. This system presents a visual overview of the groups in this hierarchy, and lets the users focus (zoom) on specific groups of interest. One general problem with zooming within hierarchical structures is the separation between the details and the context. To address this problem, we implement a fisheye zooming capability in our system. This paper describes a typology of the various components necessary for addressing the problem and then the proposed solution based upon a fisheye view-based visualization. Next, the specific visualization algorithm and the system implementation are described. We conclude with research questions for further development of such interfaces for presentation of the results from web searches.<br>

Development of a fisheye-based information search processing aid (FISPA) for managing information overload in the web environment

Information technologies have proliferated at an unprecedented rate to provide access to information across geographical boundaries. However, this proliferation has led to an information overload. Information overload has adverse impacts on information use and decision quality. This research focuses on the overload problem resulting from a web search, and proposes a potential remedy. We develop the requirements of a system that makes use of clustering and visualization for browsing the results of a typical web search. Based on this model, we develop a prototype that visualizes search results by first organizing them into a hierarchy according to their individual contents. This system presents a visual overview of the groups in this hierarchy, and lets the users focus (zoom) on specific groups of interest. One general problem with zooming within hierarchical structures is the separation between the details and the context. To address this problem, we implement a fisheye zooming capability in our system. This paper describes a typology of the various components necessary for addressing the problem and then the proposed solution based upon a fisheye view-based visualization. Next, the specific visualization algorithm and the system implementation are described. We conclude with research questions for further development of such interfaces for presentation of the results from web searches.<br>

A Tool for Improving Decision Quality on Upstream Consortia

This article aims to provide a guideline to better decision quality on multi-company upstream projects. The scope is to provide a high-level overview of what should be included in a decision quality process, when companies with different levels of ownership and influence on the decision-making process naturally tend to have different approaches towards risks and decision management. It is well known in our industry that there is a predominance of multicompany participation in these projects and the paper will provide guidelines that will ultimately provide better decision quality and participant's alignment. Normally high-risk upstream projects have multi-company ownership. However, it has been noticed that companies tend to face decision management differently, which causes unnecessary delays on budget approvals and even operational timeline. Procedures to normalize the definition of an initial decision frame and creation of solutions based on a good set of alternatives are paramount to facilitate discussions and drive final recommendations. In summary, companies’ alignment on decision-making processes is key to quality, speed, and effectiveness of those decisions and critical to project success. Alignment between partners on pivotal decisions can significantly improve project delivery. The main results are practical guidelines for generating (a) decision framing, (b) strategies, (c) alternatives and potential consequences, and (d) logical analysis, partners’ alignment and commitment to action.

Sources of confidence in value-based choice

Confidence, the subjective estimate of decision quality, is a cognitive process necessary for learning from mistakes and guiding future actions. The origins of confidence judgments resulting from economic decisions remain unclear. We devise a task and computational framework that allowed us to formally tease apart the impact of various sources of confidence in value-based decisions, such as uncertainty emerging from encoding and decoding operations, as well as the interplay between gaze-shift dynamics and attentional effort. In line with canonical decision theories, trial-to-trial fluctuations in the precision of value encoding impact economic choice consistency. However, this uncertainty has no influence on confidence reports. Instead, confidence is associated with endogenous attentional effort towards choice alternatives and down-stream noise in the comparison process. These findings provide an explanation for confidence (miss)attributions in value-guided behaviour, suggesting mechanistic influences of endogenous attentional states for guiding decisions and metacognitive awareness of choice certainty.

Flexible Supplier Selection of WASPAS based on Hesitant Cloud Language

To ensure the continuity and stability of the supply chain under the sudden crisis, flexible supplier selection has taken up an important position in the operation decision of enterprises. Considering the differences of different expert decision-making and decision-making results that contain fuzziness, randomness and hesitation, the flexible supplier selection was studied by using the method of combining hesitant fuzzy language with normal cloud model and hesitant cloud linguistic term set was established. The weights were calculated according to the decision quality and aggregated with the evaluation results. Finally, WASPAS was used for scheme sorting to select the best supplier. The validity and applicability of the model were verified by a case study, which provided a scientific basis for enterprise decision makers to avoid interruption risk.