Debiasing is painful, why analytics fail, and health app evidence.
Building trust in the decision process.
1. Debiasing → Better decisions Debiasing is hard work, requiring honest communication and occasional stomach upset. But it gets easier and can become a habit, especially if people have a systematic way of checking their decisions for bias. In this podcast and interview transcript, Nobel-winning Richard Thaler explains several practical ways to debias decisions. First, […]
Long-term thinking, systems of intelligence, and the dangers of sloppy evidence.
How we decide is no less important than the data we use to decide. People are recognizing this and creating innovative ways to blend what, why, and how into decision processes. 1. Apply behavioral science → Less cognitive bias McKinsey experts offer excellent insight into Behavioral science in business: Nudging, debiasing, and managing the irrational […]
When nudging fails, defensive baseball stats, and cognitive bias cheat sheet.
1. Long view → Better financial performance. A McKinsey Global Institute team sought hard evidence supporting their observation that “Companies deliver superior results when executives manage for long-term value creation,” resisting pressure to focus on quarterly earnings (think Amazon or Unilever). So MGI developed the corporate horizon index, or CHI, to compare performance by firms […]
Business coaching, manipulating memory for market research, and female VCs.
1. When nudging fails, what else can be done? Bravo to @CassSunstein, co-author of the popular book Nudge, for a journal abstract that is understandable and clearly identifies recommended actions. This from his upcoming article Nudges that Fail: "Why are some nudges ineffective, or at least less effective than choice architects hope and expect? Focusing primarily […]
Evidence relativism, innovation as a process, and decision analysis pioneer.
1. Systematic review: Does business coaching make a difference? In PLOSOne, Grover and Furnham present findings of their systematic review of coaching impacts within organizations. They found glimmers of hope for positive results from coaching, but also spotted numerous holes in research designs and data quality. Over the years, outcome measures have included job satisfaction, […]
Are you causing a ripple? How to assess the impact of research.
1. Panning for gold in the evidence stream. Patrick Lester introduces his new SSIR article by saying "With evidence-based policy, we need to acknowledge that some evidence is more valid than others. Pretending all evidence is equal will only preserve the status quo." In Defining Evidence Down, the director of the Social Innovation Research Center […]
Brain training isn’t smart, physician peer pressure, and #AskforEvidence.
People are recognizing the critical need for meta-research, or the ‘science of science’. One focus area is understanding whether research produces desired outcomes, and identifying how to ensure that truly happens going forward. Research impact assessment (RIA) is particularly important when holding organizations accountable for their management of public and donor funding. An RIA community […]
Counting to 10, science about science, and Explainista vs. Randomista.
1. Spending $ on brain training isn't so smart. It seems impossible to listen to NPR without hearing from their sponsor, Lumosity, the brain-training company. The target demo is spot on: NPR will be the first to tell you its listeners are the "nation's best and brightest". And bright people don't want to slow down. […]
$15 minimum wage, evidence-based HR, and manmade earthquakes.
SPOTLIGHT 1. Take a deep breath, everybody. Great stuff this week reminding us that a finding doesn't necessarily answer a meaningful question. Let's revive the practice of counting to 10 before posting remarkable, data-driven insights… just in case. This sums up everything that's right, and wrong, with data. In a recent discussion of some impressive […]
Photo by Fightfor15.org 1. SPOTLIGHT: Will $15 wages destroy California jobs? California is moving toward a $15/hour minimum wage (slowly, stepping up through 2023). Will employers be forced to eliminate jobs under the added financial pressure? As with all things economic, it depends who you ask. Lots of numbers have been thrown around during the […]