149
12
inTuiTive and analyTical
decision making
DONALD S. ORKAND
DC Ventures and Associates, LLC
12.1 Introduction
W. Edwards Deming (1950) in the preface to his historic book on
statistical sampling theory noted that “e intuition, like the con-
science, must be trained.” is chapter argues that intuitive decision
making can be improved if the decision maker has some knowledge
and appreciation of analytical methods, and that this is true despite
the fact that critical senior-level decisions must often be made without
explicit quantitative models or relevant data.
We are often faced with the need to rely on intuition and experi-
ence, and rigorous analytical thinking can help in formulating the
Contents
12.1 Introduction 149
12.2 Some Examples 150 ...