Noise: How to Overcome the High, Hidden Cost of Inconsistent Decision Making - rocketMBA
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Noise: How to Overcome the High, Hidden Cost of In...

Noise: How to Overcome the High, Hidden Cost of Inconsistent Decision Making

(HBR) In this fantastic piece Nobel prize winner Daniel Kahneman and three leaders from “The Greates Good Group” explain what the difference between biases (such as cognitive or social biases) and noise (variability of chance) is and how to measure the degree to which noise affects organizational decision making. The authors refer to the bottom line impact of noise as “invisible tax” and suggest ways to make decisions more consistent (i.e. less noisy), among others using algorithms.


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