Decision Science – Kahneman

September 5, 2013 — Leave a comment

Cognitive Decision Science must be part of your modeling solutions. Understanding how people make decisions and what their typical biases are is critical to developing decision support models.

Daniel Kahneman,. ” Thinking Fast and Slow’ will provide some guidance on this subject.

The types of decisions follow data types; each with their own defect modes. The best models inoculate the business from decision bias that is always present when people make decisions. If you are working in a ‘flow’ transaction environment, making good decisions, consistently at speed simply does not happen without data analytics support.

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