Does Bigger Data Lead to Better Decisions?

October 21, 2013 | Theos Evgeniou, Vibha Gaba and Joerg Niessing | Harvard Busniess Review
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Many scholars, from decision scientists to organizational theorists, have addressed this question from different perspectives, and the answer, as for most complex questions, is “it depends.” Big Data can lead to Big Mistakes. After all, the financial sector has been flooded with big data for decades.
A large body of research shows that decision-makers selectively use data for self-enhancement or to confirm their beliefs or simply to pursue personal goals not necessarily congruent with organizational ones. Not surprisingly, any interpretation of the data becomes as much an evaluation of oneself as much as of the data.