Decision Quality

Moving from Analyzing Datasets to Decisions in DPL

We've discussed "Big Data" within our Imperfect Information blog in the past -- with a moderately critical tone. (See Big Data and DA) When it comes to Big Data us DA folks think far too much emphasis is put on the past and how many terabytes one can unearth and not the value (or lack thereof) that the wodges of data can bring to your decisions. So allow me to expound the fact that data (or information) only has value if it will affect your future actions and decisions!

Decision Engineering: Keeping the Decision Factory Humming

The subject of Decision Engineering has been gathering increasing attention, most recently with this article in IEEE Roundup.

Decision {insert any noun in the English language} ...

Among some of my decision, uh, interested friends and colleagues, there's a certain skepticism about new terms that start with the word "decision".

HBR on Chevron's Approach to Decision Making

Larry Neal and Carl Spetzler have a recent article in Harvard Business Review which explains Chevron's multi-decade commitment to Decision Quality (of which Decision Analysis is a key part).

This is a bit like when that alternative band you've been listening to forever ends up playing on Saturday Night Live -- you think "Gee, I thought nobody else knew they were good".

What is the decision? Or, common disorders of the decision pyramid

A recent post by Steve Barrager on LinkedIn got me thinking about decisions, and in particular, the framing choices that lead to the identification of the focus decisions an analytical project will consider.

In many cases, the main decision is pretty obvious. Should we fund this R&D project? What should we bid for this lease?

Big Data and Decision Analysis: From Data to Information to Decision Quality

Most decision analysts greet "Big Data" with considerable scepticism. Eyes roll, arms are crossed, someone mumbles something about driving while looking in the rear view mirror. It's safe to say Big Data hasn't been welcomed with open arms by the DA community.

When some new/rebranded management science thing comes along, we can react in one of several ways:

   0. This thing is worthless rubbish.
   1. This thing isn't new, we've been doing this all along.

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