While successful managers demonstrate the ability to leverage experience, intuition, and even emotion, these “skills” are often at odds with the ideal basis for making decisions — the facts. In their blockbuster Freakonomics, Levitt & Dubner describe the concept of “Conventional Wisdom” as “simple, convenient, comfortable, and comforting — though not necessarily true.”
At Chainalytics, we understand that complex decisions need more than experience and intuition, they need an analysis based on facts. At the core of Chainalytics is our passionate belief that fact-based decision making is the path to superior supply chain and enterprise performance. This approach provides robust analysis of complex situations to enable clients to effectively make decisions based on more complete data, consideration of all available options, and careful prediction of outcomes.
Fact-based decision making facilitates change and transformation by introducing objectivity, consensus, and decision confidence across your teams. While many firms sell change management as a separate project to be performed after plans are formulated, Chainalytics believes change management should be implicit in the process of evaluating strategic and tactical decisions –not after decisions have been “handed down.”
In the face of complexity, decisions become obvious when employing a fact-based decision making approach, allowing your enterprise to “make the best decisions: big and small, every day, over and over and over.”1
1Competing on Analytics, Thomas H. Davenport, HBR, 2006
Popular Reading related to Fact-Based Decision Making
- Analytics: The New Path to Value, MIT Sloan Management Review, 2010
- Is Decision Based Evidence Making Necessarily Bad?, MIT Sloan Management Review, 2010
- The Future of Decision Making: Less Intuition, More Evidence, Harvard Business Review Blog, 2010
- Competing on Analytics, Harvard Business Review, 2006