Becoming a Business Analytics Jedi: An application of values-framed decision making
In the current rush to adopt data-driven analytics, discussions about algorithms, programming tools, and big data tend to dominate the practice of business analytics. But we are defined by our choices, our values, and preferences. Data and business analytics that do not start with this recognition actually fail to support the human-centered reason for decision making. This is the way of the Sith. A Jedi, however, knows that framing business analytics in terms of the values and preferences of decision makers, and the uncertainty of achieving those, employs the tools of decision and data science in the wisest way. In this discussion, we will think about the principles of high quality decisions, how to frame a business analytics problem, and learn how to use information in the most efficient way to create value and minimize risk.