Cookies help us display personalized product recommendations and ensure you have great shopping experience.

By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
SmartData CollectiveSmartData Collective
  • Analytics
    AnalyticsShow More
    sales and data analytics
    How Data Analytics Improves Lead Management and Sales Results
    9 Min Read
    data analytics and truck accident claims
    How Data Analytics Reduces Truck Accidents and Speeds Up Claims
    7 Min Read
    predictive analytics for interior designers
    Interior Designers Boost Profits with Predictive Analytics
    8 Min Read
    image fx (67)
    Improving LinkedIn Ad Strategies with Data Analytics
    9 Min Read
    big data and remote work
    Data Helps Speech-Language Pathologists Deliver Better Results
    6 Min Read
  • Big Data
  • BI
  • Exclusive
  • IT
  • Marketing
  • Software
Search
© 2008-25 SmartData Collective. All Rights Reserved.
Reading: Emotional responses and decision-making
Share
Notification
Font ResizerAa
SmartData CollectiveSmartData Collective
Font ResizerAa
Search
  • About
  • Help
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
SmartData Collective > Uncategorized > Emotional responses and decision-making
Uncategorized

Emotional responses and decision-making

Editor SDC
Editor SDC
4 Min Read
SHARE

Yesterday I received an email announcement from Tom Davenport via the BabsonKnowledge email list (no current web site to be found, sorry). Tom was announcing the publication of his newest HBR article, Make Better Decisions. While I am not the audience for this piece (I have not, for a long time, been called upon to participate in strategic decision-making), Tom’s email included a table from the article:

Since I had just blogged on the human emotional response, I was very interested in how Davenport saw neuroscience as a decision-making approach. His list of approaches includes:

  1. Small group processes (“making effective decisions with just a few people”)
  2. Analytics (“using data and quantitative analysis to support decision making;” analytics is Tom’s current area of research)
  3. Automation (“using decision rules and algorithms to automate decision processes”)
  4. Neuroscience (“decision makers know when to use the emotional brain”)
  5. Behavioral economics (“incorporating research on economic behavior and thinking into decisions”)
  6. Wisdom of crowds (“using surveys or markets to allow decisions or inputs by large groups”)

I can see #1, #2, #3, and …



Yesterday I received an email announcement from Tom Davenport via the BabsonKnowledge email list (no current web site to be found, sorry). Tom was announcing the publication of his newest HBR article, Make Better Decisions. While I am not the audience for this piece (I have not, for a long time, been called upon to participate in strategic decision-making), Tom’s email included a table from the article:

More Read

Apps for America2: Data.gov Visualization Challenge
Check out this Screencast on Wolfram Alpha, by the founder of…
When Government Officials Should Not Blog
SIA: CRM – Building a Smarter Database
The Boston Globe

Since I had just blogged on the human emotional response, I was very interested in how Davenport saw neuroscience as a decision-making approach. His list of approaches includes:

  1. Small group processes (“making effective decisions with just a few people”)
  2. Analytics (“using data and quantitative analysis to support decision making;” analytics is Tom’s current area of research)
  3. Automation (“using decision rules and algorithms to automate decision processes”)
  4. Neuroscience (“decision makers know when to use the emotional brain”)
  5. Behavioral economics (“incorporating research on economic behavior and thinking into decisions”)
  6. Wisdom of crowds (“using surveys or markets to allow decisions or inputs by large groups”)

I can see #1, #2, #3, and #6 as approaches that incorporate methods and hence processes for making decisions, but I interpret neuroscience and behavioral economics as filters rather than methods. I am probably splitting hairs, but if someone said, we are going to use the neuroscience method to make this decision, I’d wait for instructions.

Using the wonderful phrase from Claire‘s comment on that previous post, “…understanding this aspect of neuroscience helps us understand ‘the limbic brain as being the gateway through which we need to move to get to the neocortex [which makes it] so important to focus our leadership development work there’.” Being able to know which part of our brain we are using in the decision process can only help us improve that decision.

Nice to see so much of this thinking converging and starting to mainstream.

TAGGED:analyticsbehavioral economicsneurosciencetom davenport
Share This Article
Facebook Pinterest LinkedIn
Share

Follow us on Facebook

Latest News

sales and data analytics
How Data Analytics Improves Lead Management and Sales Results
Analytics Big Data Exclusive
ai in marketing
How AI and Smart Platforms Improve Email Marketing
Artificial Intelligence Exclusive Marketing
AI Document Verification for Legal Firms: Importance & Top Tools
AI Document Verification for Legal Firms: Importance & Top Tools
Artificial Intelligence Exclusive
AI supply chain
AI Tools Are Strengthening Global Supply Chains
Artificial Intelligence Exclusive

Stay Connected

1.2kFollowersLike
33.7kFollowersFollow
222FollowersPin

You Might also Like

Looking at Trees to Understand the Forest

6 Min Read

Report: 6th Annual SAS HLS Executive Conference

7 Min Read

New Companies Making Their Fortunes Powered By Analytics And Business Intelligence

3 Min Read
Data Monetization
AnalyticsBig Data

How Data Monetization Can Add Value To Your Analytics

6 Min Read

SmartData Collective is one of the largest & trusted community covering technical content about Big Data, BI, Cloud, Analytics, Artificial Intelligence, IoT & more.

data-driven web design
5 Great Tips for Using Data Analytics for Website UX
Big Data
ai in ecommerce
Artificial Intelligence for eCommerce: A Closer Look
Artificial Intelligence

Quick Link

  • About
  • Contact
  • Privacy
Follow US
© 2008-25 SmartData Collective. All Rights Reserved.
Go to mobile version
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?