NEWS & DEALS!

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Hi, it's James Taylor, keynote speaker and founder of SuperCreativityU.

Heuristics And Decision Making

The other day, I was having a conversation with Gerd Gigerenzer, as part of my super creativity podcast, I'd first met Gerd. We were doing an event together for a company called fractal analytics, an amazing analytics company based in India, and a good Professor guard. He's a professor at the Max Planck Institute in Berlin. And he is really one of the world's leading experts on heuristics and decision making, how to make good decisions, he wrote a wonderful book called risk savvy that I highly encourage you to go and check out. And we're having this conversation in the podcast. And we're talking about how, in organizations in the world of business, the idea of intuition, or gut feel, is kind of, it's kind of put down, it's like, it's considered as very unscientific on rational non-rational, nor something that we should really consider. We want the hard data, we want the hard facts. But what Professor Gigerenzer actually shows that in many decisions that we have to make going with our intuition, our gut feeling is often actually the smart decision. 

Intuition Or Gut Feeling

In fact, he had a conversation with a number of top C-level executives and organizations who were challenging him on this idea. And he asked them the question, think about the last 10 decisions that you made important decisions you made in your business. So think about that for yourself, what were those last 10 important decisions that you made in your business? And what Professor Gigerenzer asked these top CEOs and these C suite executives was now I want you to think about how many of those decisions came about through a gut through intuition. You made the decision almost instinctively, through your gut intuition. You may have then gone and done research to back up that hunch, but it first came to you really as a hunt as intuition as a gut feeling. And when he asked that question, he found that the vast majority of the decision-makers that these top leaders make are very experienced leaders based on intuition. 

Intuition is Powerful

Now, there are lots of reasons why your gut and why your intuition is so powerful. You as humans were, were always so we're pattern recognizing animals we're always looking for, for patterns. And we also can think very well from different jumping from different ideas and seeing connections where maybe other machines can literally see those organizations or things that are artificial intelligence machine learning. They require data, something structured, sometimes unstructured data. But as humans, we can see some of those signals which even the AI the machines can't necessarily see. 

So I want you to have a think about it just now, in your own business, whatever your business may be. Think about those recent decisions you've made. I want to ask yourself honestly, how many decisions were made for a sense of gut or intuition. Now, there's a couple of providers to this, this idea of going with your gut, your intuition more often is only really advisable, if you're experienced in the field, or the industry or the area that you're working in, if you're a novice to an area is probably actually not the best thing necessarily to go with your gut all the time, you want to do what we call more modeling there where you maybe find great benchmarks and other organizations, other people have done what you want to do and kind of benchmark and model them see how they're done. It just kind of follow what they've done. And that gives you a chance to, to learn, it's like great musicians will often go and learn by listening to records by other great musicians and almost imitating those for the first few years until they can find their sound until they build up that level of experience till they can pay their dues, as it's sometimes called. But once you reach this level of experience, you've actually become very, very good. You've got huge amounts of information and data and experience that you've built up over time. And that's when the gut when intuition really can work well for you. 

So I'm going to set you a little task just now. The next decision you have to make there's not to be a massive decision could be in your work life and your personal life. I want you to think and actually, I don't want you to think I want you to put thinking aside I want you to feel in your gut. What is your introverted intuition? What does it say? really listen, and for some people that got like for me is actually in my gut divine feeling as well as the heart. Some people have a different body sensation if they're thinking about it. But what is that intuition telling you to do? What decision should you be making and then I'd like you to go ahead and make that decision and go with that gut once again, on the provisos that make a big Nestle a big thing. Don't Nestle make it something that's in an area that you don't have a lot of experience with. But if you're experiencing an area, maybe go with your gut, go with your intuition a little bit more often. I would love to get your comments, leave them here in the comment section below. My name is James Taylor. Thanks for watching.

-How To Make Good Decisions For Your Business