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We’re Supposedly Data-Driven, But Most Companies Aren’t Good At “Data.” What gives?
A lot of different stuff gives, and it’s hard to wade through. But here goes.
To commence: We’re not really that “data-driven,” no.
A large body of research in behavioral economics and psychology has highlighted systematic mistakes we can make when looking at data. We tend to seek evidence that confirms our preconceived notions and ignore data that might go against our hypotheses. We neglect important aspects of the way that data was generated. More broadly, it’s easy to focus on the data in front of you, even when the most important data is missing. As Nobel Laureate Daniel Kahneman has said, it can be as if “what you see is all there is.”
I think we all know this, but we still constantly claim to be “data-driven” and “wanting to see what the data says,” which in 97% of orgs still means “want…
