Category Archives: Decision Making

Daniel Kahneman

Posted on March 28, 2024 by decisionmanagementcommunity

Daniel Kahneman, a psychologist who won a Nobel Prize in economics for his insights into how ingrained neurological biases influence decision making, died Wednesday at the age of 90. Link Read “Thinking, Fast and Slow” for free.

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Focus on Decision-Making Under Uncertainty

Posted on March 24, 2024 by decisionmanagementcommunity

Meinoff Sellmann, a well-known expert in Operation Research (OR), gives this advice: “No surfer has ever surfed a wave by paddling to a place where others are already surfing the tube. In 2024, generative AI is the latest fashion. And … Continue reading →

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Decision-makers behind the curtain

Posted on March 3, 2024 by decisionmanagementcommunity

Cassie Kozyrkov: When it comes to AI, which part am I most concerned about? The decision-maker behind the curtain. Forget creepy robots — if there’s anything to fear, it’s human negligence. Most people think of AI as a tool for … Continue reading →

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Gartner: “Decision-Centric” is surpassing “Data-Driven”

Posted on December 5, 2023 by decisionmanagementcommunity

Gartner predicts that by 2028, 25% of chief data and analytics officer vision statements will become “decision-centric,” surpassing “data-driven” slogans, as human decision-making behaviors are modeled to improve data and analytics. Data alone doesn’t change decision-making behaviors, unless it is … Continue reading →

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Decision-making under uncertainty

Posted on December 3, 2023 by decisionmanagementcommunity

Making decisions under uncertainty is hard. The best course of action can be very counter-intuitive. Meinolf Sellmann provided a good example that illustrates this. His article “A Tale of Two Coffees” showcases a tool that cuts through the uncertainty, even … Continue reading →

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Smarter Decisions for a Better World

Posted on November 26, 2023 by decisionmanagementcommunity

Operations Research and the Management Sciences (OR/MS) is the computer science technology with probably the most impressive real-world success stories in decision optimization. However, being “too scientific”, OR/MS remains a well-kept secret for many years. The Institute for OR/MS, known … Continue reading →

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Challenge May-2023 “Next Best Action”

Posted on April 22, 2023 by decisionmanagementcommunity

“Next best action” is a popular decision-making strategy. But how to define the “best” next action? This challenge may demonstrate it. Consider an NxN grid of lightbulbs. We are given an initial state where some of the bulbs are off and some are on. Then, … Continue reading →

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Christopher Columbus, global warming and mathematical optimization

Posted on August 30, 2022 by decisionmanagementcommunity

In this highly popular article IBM’s Alex Fleischer wrote: “One of the levers is the mathematical optimization of business decision making, made possible by data and the deployment of decision models associated with constraint programming. Or, put more simply: an algorithm … Continue reading →

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Decision-Making vs. Problem Solving

Posted on July 20, 2022 by decisionmanagementcommunity

This post Decision-Making: How to Determine the Best Possible Choices defines decision-making as “the process by which people come to actionable decisions after a careful consideration of the facts and values of the situation and parties involved. Decision-making could either be rational or … Continue reading →

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Decision Intelligence 101

Posted on July 4, 2022 by decisionmanagementcommunity

“Decision Intelligence is a practical approach designed to improve decision-making by first understanding and then engineering the way decisions are made and how outcomes are evaluated, managed, and improved based on feedback.” Decision intelligence has three key business benefits: Link

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