HBR On Strategy The Right Way to Make Data-Driven Decisions
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Mar 5, 2025 
Amy Edmondson, a Harvard Business School professor, and Michael Luca from Johns Hopkins Carey Business School dive into the intricacies of data-driven decision-making. They reveal how misinterpretation can lead to faulty conclusions, emphasizing the need for critical thinking in analyzing data. Listeners learn about balancing reliance on data with intuition, understanding the importance of effect sizes, and recognizing the pitfalls of correlation versus causation. Their insights aim to equip leaders with strategies for aligning metrics with meaningful outcomes.
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Data-Driven Decisions
- Understand that data interpretation is crucial for good decisions.
- Learn how to determine data relevance, avoid misinterpretation, and synthesize data sources.
Data Use Extremes
- Leaders often make the mistake of over-relying on data or dismissing it entirely.
- Effective data use requires thoughtful conversation and probing for relevant insights.
Data's Value
- Having data isn't enough; understanding its strengths and limitations is crucial.
- Translate data insights effectively into managerial decisions by understanding its implications.