Data pelts today’s business leaders like hail in a thunderstorm. It’s become a critical tool in corporate decision making and strategy. But that deluge could be drowning out another useful implement in the decision-making tool box—going with your gut.
Chan and her team sought to answer these questions: When faced with an important business decision, should executives rely more on intuition or data analytics? Or should there be equilibrium between the two? In their resulting paper, the researchers found that how business executives use intuition varies depending on their age, experience, gender and nationality.
“Gut,” replied Arison. “I trust my gut.” Arison was one of 20 leading CEOs Maidique asked about how they made two critical decisions in their careers. In almost every case, they primarily relied on intuition.
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