Can You See the Wood for the Trees? | BTalk

(MoneyWatch) 

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(Episode 420; 8 minutes 07) There's no doubt that businesses are more analytical in their approach than ever before. Data is used to build complex models to determine customer behaviour, build forecasts and make funding decisions.

Of course data can be wrong. For example, in Sydney two major toll road operators have gone into receivership because their traffic assumptions were outlandishly unrealistic.

On BTalk today we look at how decisions are sometimes made based on data that only looks at half of the complete picture. Often that's because the information is gathered by specialists who can't see the wood for the trees.

So, while specialists in your business are building assumptions for your sophisticated models, is there anyone else taking a more holistic look at the approach. Who is asking the "what if?" questions. If the answer is no-one then beware the consequences. As you'll hear in today's podcast you need to ensure that every decision is arrived at using all quadrants of your brain.

To hear the interviews featured in today's BTalk in full, visit these previous editions of the programme:

• Why People Don't Behave the way They Should | BTalk Australia
• Are You Listening to Your Customers | BTalk Australia
• A Half Brained Decision From Pacific Brands | BTalk Australia
• Easy to Measure Doesn't Mean Best Results | BTalk Australia