Whether we rely on our gut or turn to sober analysis to make a decision seems to depend on a variety of factors, such as our past experiences with similar situations and the complexity of the problem. Many cognitive scientists argue that intuitive and analytic thinking should not be viewed as opposites.

Intuition plays an important role in decision making, but it can be dangerously unreliable in complicated situations. A new set of analytical tools can help you leverage your instinct without being sabotaged by its weaknesses.

You can make fast, effective decisions in complex and unfamiliar situations and in high stakes, dynamically changing situations, which are often standard at the strategic and executive level. You gain access to deeper wisdom and intelligence.

Because intuition relies on evolutionarily older, automatic and fast processing, it also falls prey to misguidances, such as cognitive biases. Thus, for every situation that involves a decision based on your assessment, consider whether your intuition has correctly assessed the situation.

Intuition plays an essential role for decision-making in rapidly changing environments; if there are contradictions in the data; ambiguity due to lack of data; or decisions that center on people (hiring, firing, or political decisions). Ironically, the fact is that for some decisions, data alone isn’t enough.

Why Data Driven Decision Making Is Important? The importance of data in decision lies in consistency and continual growth. It enables companies to create new business opportunities, generate more revenue, predict future trends, optimize current operational efforts, and produce actionable insights.

5 ways to improve data-driven decision making.

1. Make data more accessible. In the fast-paced world of data and technology, flexibility and agility are more important than ever.
2. Make data more appealing.
3. Make data more available.
4. Make data more applicable.
5. Make data more agile.