Quotes & Sayings About Data-driven Decision Making

What I learned from my work as a physician is that even with the most complicated patients, the most complicated problems, you've got to look hard to find every piece of data and evidence that you can to improve your decision-making. Medicine has taught me to be very much evidence-based and data-driven in making decisions. — Jim Yong Kim

Disruptive technology is a theory. It says this will happen and this is why; it's a statement of cause and effect. In our teaching we have so exalted the virtues of data-driven decision making that in many ways we condemn managers only to be able to take action after the data is clear and the game is over. In many ways a good theory is more accurate than data. It allows you to see into the future more clearly. — Clayton Christensen

We are deluged with information. We have to process now three times as much data as we would have done 50 years ago. We're bombarded with tweets, with emails - a state of continuous disruption - and that's bad for our decision making and bad for our thinking. — Noreena Hertz

Measurement has too often been the leitmotif of many investigations rather than the experimental examination of hypotheses. Mounds of data are collected, which are statistically decorous and methodologically unimpeachable, but conclusions are often trivial and rarely useful in decision making. This results from an overly rigorous control of an insignificant variable and a widespread deficiency in the framing of pertinent questions. Investigators seem to have settled for what is measurable instead of measuring what they would really like to know. — Edmund Pellegrino

One of the applications of Big Data is giving people the facts, and getting them to understand that their own decision-making is not perfect. And that in itself causes them to change their behavior — Laszlo Bock

My hunch is that as the importance of a decision grows, the tendency to rely on quantitative analyses done by others tends to shrink. When the championship or the future of the company is on the line, managers tend to rely on their gut instincts. — Richard H. Thaler

[On stereotyping:] It's the mind's way of processing a lot of information quickly. If we had to sort through every bit of data before making a decision, most folks would still be going out the front door when it was time to come home for the night. — Fay Faron

The key to good decision making is evaluating the available information - the data - and combining it with your own estimates of pluses and minuses. As an economist, I do this every day. — Emily Oster

Ambiguity is not, today, a lack of data, but a deluge of data. — Paul Gibbons

By the time your perfect information has been gathered, the world has moved on. — Phil Dourado

As economists like to say, the plural of "anecdote" is not "data. — Robert Lane Greene

As a geologist, I love Earth observations, but it is ridiculous to tie this objective to a 'consensus' that humans are causing global warming when human experience, geologic data and history, and current cooling can argue otherwise. 'Consensus,' as many have said, merely represents the absence of definitive science. You know as well as I, the 'global warming scare' is being used as a political tool to increase government control over American lives, incomes and decision making. — Harrison Schmitt

Instead of looking at leadership as decision making - as a rational process of sifting through data, analyzing trends, and making decisions based on predicting futures - a design framework emphasizes pragmatic experimentation. — Frank J. Barrett

There's definitely a huge opportunity for businesses to transform their operations and decision making by using data. — Jerry Yang

Use of analytics is accelerating, and that means more data-driven
decision making and fewer hunches. Evidence-based management
complements analytics by adding validated cause-and-effect relationships
between policies and effects. — Paul Gibbons

Years ago a statistician might have claimed that statistics deals with the processing of data ... to-days statistician will be more likely to say that statistics is concerned with decision making in the face of uncertainty. — Herman Chernoff