Thinking And Data Analysis Skills Essay

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Summary Making decision is not easy and it requires critical thinking and data analysis skills. There are three decision making philosophies: heuristics and bias, decision analysis, and going with your gut (simply demonstrating that we humans are not dumb). Each school of thought has its vital insights. Managers or decision makers need to understand when to make decisions formally, when to use own experience and judgments, and when to blend those approaches. There are many differences among those three schools, which have been causing fierce debates among their adherents. Decision making is very important because we all have to make decisions, either small or big. Good and educated decisions can make you successful, while bad decisions ruin your career and even life. Decision scholars have demonstrated significant influence in the decision making history when the explosion of interest in the decision making study started during and after World War II. Through studying decision making we become more informed consumers of decision advise, thereby becoming better decision makers. Decision analysis was one of the products of analytical means (statistical approach), which Allied force statisticians started to use in World War II and had been a great help to “improve quality control manufacturing, route ships more safely across the ocean, figure out many pieces of antiaircraft theses should break into when they exploded, and crack Germans’ codes” (Fox, 2015). Decision

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