The growing power of decision models has captured plenty of C-suite attention in recent years. Combining vast amounts of data and increasingly sophisticated algorithms, modeling has opened up new pathways for improving corporate performance. Models can be immensely useful, often making very accurate predictions or guiding knotty optimization choices and, in the process, can help companies to avoid some of the common biases that at times undermine leaders’ judgments. Yet when organizations embrace decision models, they sometimes overlook the need to use them well. In this article, we address an important distinction between outcomes leaders can influence and those they cannot.
Posted on: Mon, 10 Feb 2014 21:10:59 +0000
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