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HR Analytics and Big Data @ Work
Articles, research and reports on HR Analytics, Big Data and related topics
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Instinct Can Beat Analytical Thinking

Instinct Can Beat Analytical Thinking | HR Analytics and Big Data @ Work | Scoop.it

Psychologist Gerd Gigerenzer has spent his career focusing on the ways in which we get things right, or could at least learn to. In Gigerenzer’s view, using heuristics, rules of thumb, and other shortcuts often leads to better decisions than the models of “rational” decision-making developed by mathematicians and statisticians. 

 

A Q&A with psychologist Gerd Gigerenzer.

Tony Brugman (Bright & Company)'s insight:

Must read on decision-making! Extensive HBR blog interview "Instinct Can Beat Analytical Thinking"

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15 Statistics That Should Change The Business World – But Haven't

15 Statistics That Should Change The Business World – But Haven't | HR Analytics and Big Data @ Work | Scoop.it
It still surprises me, even in this day and age, how many people still need convincing that improving the Customer Experience will generate revenue and save costs. As I read this great blog the other
Tony Brugman (Bright & Company)'s insight:

Some nice statistics (from the neighboring field of Marketing and Sales) on Customer Experience and Customer Retention.

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When to Act on a Correlation, and When Not To

When to Act on a Correlation, and When Not To | HR Analytics and Big Data @ Work | Scoop.it
How confident are you in the relationship, and what is the risk of being wrong?
Tony Brugman (Bright & Company)'s insight:

Good HBR blog post! When is just knowing a correlation enough, and when isn't it (and is causality vital).

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Risk management should be handled with care

Risk management should be handled with care | HR Analytics and Big Data @ Work | Scoop.it
In the wake of the credit crisis, the teaching of risk management has become hugely controversial. Many blame the crisis on the failure of the mathematical modelling of market risk.

Via Kenneth Mikkelsen
Tony Brugman (Bright & Company)'s insight:

Important Lessons for HR Leaders in respect to the usage of more Risk Management principles within the area of Evidence-Based HR and Human Capital Management!

 

"Advanced financial econometrics involves an understanding not only of advanced statistical techniques but also of finance and, most importantly, experience. It takes at least four years of research and applied modelling to develop competence in this subject and fully understand the limitations and potential pitfalls of applying a methodology to data."

"Mathematical modelling needs to be better applied and better understood. These models are a powerful tool for reducing the guesswork in market risk, but only in the right hands."

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Tony Brugman (Bright & Company)'s curator insight, February 4, 2013 12:48 PM

Important Lessons for HR Leaders in respect to the usage of more Risk Management principles within the area of Evidence-Based HR and Human Capital Management!

 

"Advanced financial econometrics involves an understanding not only of advanced statistical techniques but also of finance and, most importantly, experience. It takes at least four years of research and applied modelling to develop competence in this subject and fully understand the limitations and potential pitfalls of applying a methodology to data."

"Mathematical modelling needs to be better applied and better understood. These models are a powerful tool for reducing the guesswork in market risk, but only in the right hands."