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AI/BI/CI/DI: Decision intelligence (DI) solves the world's most complex problems by connecting actions to outcomes.  It connects collaborating human decision makers to knowledge and also to technologies like machine learning, AI, deep learning, visual decision modeling, complex systems modeling, big data, predictive analytics, UX design, statistical analysis, business intelligence, business process management, causal reasoning, evidence-based analysis, and more. See https://en.wikipedia.org/wiki/Decision_Intelligence. For an overview, see the webinar at http://youtu.be/XRTJt3bVCaE, http://www.lorienpratt.com, and the Decision Intelligence group: http://www.linkedin.com/groups?gid=205078.   Also, my company offers DI and machine learning consulting services.  See http://bit.ly/1X8O2zF to learn more.  Don't miss the latest DI news! Sign up at subscribe.decisionintelligencenews.com.
Curated by Lorien Pratt
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Scooped by Lorien Pratt
December 16, 2022 4:24 PM
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Decisions Without Blinders

Decisions Without Blinders | Decision Intelligence News | Scoop.it

"In this article, we’ll examine the phenomenon of bounded awareness—when cognitive blinders prevent a person from seeing, seeking, using, or sharing highly relevant, easily accessible, and readily perceivable information during the decision-making process. 'The information that life serves is not necessarily the information that one would order from the menu,' notes Dan Gilbert of Harvard University’s psychology department, 'but like polite dinner guests and other victims of circumstance, people generally seem to accept what is offered rather than banging their flatware and demanding carrots.'...

It’s important to note that bounded awareness differs from information overload, or having to make decisions with too much information and too little time. Even when spared a deluge of information and given sufficient time to make decisions, most individuals still fail to bring the right information into their conscious awareness at the right time."

Lorien Pratt's insight:

This article provides an in-depth exploration of bounded awareness and its detrimental effects on decision making. It provides a number of techniques to break out of the limitations of bounded awareness thinking,  including “unpacking” a situation, sharing unique information, broadening focus, and asking "Why Not?" DI provides a methodology and framework for employing these and other techniques to remove blinders from decision makers.

smokelooseleaf's curator insight, January 14, 2023 2:48 AM
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Scooped by Lorien Pratt
May 21, 2015 4:15 PM
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A grand tour of decision architecture tools for leaders

A grand tour of decision architecture tools for leaders | Decision Intelligence News | Scoop.it
Structure your organization’s work to encourage wise choices.
Lorien Pratt's insight:

A must-read grand tour of tools & techniques for decision leadership, from two Harvard professors  / consultants. My summary:

Leaders can architect decisions through a five-step process:

  1. Understand biases
    1. Kahneman, thinking fast and slow, system 1 and system 2
  1. Understand behavioral issues at the heart of poor decisions
    1. Burnout?
    2. Technology / knowledge issues?
    3. Narrow down the problem
  1. Determine causes
    1. Insufficient motivation?
      1. e.g. an onboarding process that failed to create an emotional connection
    1. Cognitive bias?
      1. Action-oriented
      2. Bias from perception and judgment of alternatives
      3. Biases from framing of alternatives
      4. Stability bias: prefer the status quo
    1. Seek to shift from System 1 to System 2
  1. Redesign the decision-making context
    1. Use choice architectures and nudges e.g. Thaler
      1. e.g. sign near big plates at google about portion size
      1. e.g. opt-in vs. opt-out retirement planning
    1. Trigger system 1: tap into emotions
    2. Harness biases, e.g. loss aversion: "pay your tax or lose your car"
    3. Simplify processes
    4. Engage system 2
      1. Reflection, broaden thinking, increase accountability, use reminders, and more
    1. Skirt systems 1 and 2 altogether using default and automatic systems
  1. Rigorously test
    1. Identify outcome
    1. Focus on one solution at a time
    1. Think in terms of treatment and control groups
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