INSIGHT OR BULLS***?

Ever feel like you’re drowning in a pool of data? As Carly Fiorina, ex chair of Hewlett Packard Co, said “The goal is to turn data into information and information into insight.” But what is an insight?

Is it a new statistic that feeds our future thinking or a form of evidence that miraculously backs up our pre-conceived opinions, in other words “Psychological Bias.”

Psychologists Daniel Kahneman, Paul Slovic, and Amos Tversky introduced the concept of psychological bias in the early 1970s. They explained that people have the tendency to make decisions or take action in an illogical way. i.e. subconsciously making selective use of data.

Beware of Psychological Bias, it is the opposite of common sense and clear measured judgment. It could lead to missed opportunities and poor decision making.

Keep an open mind, be neutral, be diverse, try to look at both sides of a debate, don’t be afraid to #changeyourthinking and challenge the stats.

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