While I was buying books crazily on Amazon, its algorithm suggested me to buy ‘Big Data The Essential Guide To Work, Life, and Learning in the Age of Insight’. It came along with the rest of so many books I casually ordered. And this book was in my last preference for the reading. After many pages of reading, I started reading it again from the first page by giving more attention, not just casual reading. It is not a book on data science. It is a book on the human mind. How we relied on the brains heavily biased by fear, greed, impatience and several cognitive biases to take decisions which mattered our life, economy and the world as a whole.
It only takes a Google search to find out the list of cognitive biases humans hold when they encounter life decisions. Here is a Wiki list for your reference.
So far our tools for decision making were intuition, human judgment, past experience, faith or even fake news!
Data science says let the data speak louder than your cognitive biases.
Advanced data science models are helping companies to take fast decisions much more sensibly based on real-time data analysis. Humans are irrational. We need the help of data to make sense of this world. Data makes an illusory world into reality. Hard truths we avoid. Unpleasant facts we ignore. Brutal facts we hide. All this would come out of the big data analytics.
We will move from narratives to numbers. Stories to data. When it comes to decision making.