Scientific Decision Making | tutor2u Business
Study notes

Scientific Decision Making

  • Levels: AS, A Level
  • Exam boards: AQA, Edexcel, OCR, Eduqas, WJEC

The scientific approach to decision-making involves the use of data and logic as opposed to hunch and intuition.

Revision Video: Scientific Decision-Making versus Hunch / Intuition

What is Scientific Decision Making?

All business decisions involve some uncertainty. However businesses and managers increasingly want to reduce that uncertainty and risk by applying logic to decision-making, supported by relevant data.

Scientific decision-making involves the use of:

  • Data mining and big data to source relevant data to inform decisions
  • Application of software logic and predictive models to analyse scenarios
  • Forecasts to consider the possible implications of business decisions

Quite a few of the models you explore as a business student can be linked to scientific decision-making (although they also involve some qualitative judgement), including:

  • Decision trees
  • Investment appraisal
  • Sales forecasting
  • Sensitivity analysis
  • Network analysis

Reasons Why Scientific Decision Making is Becoming More Popular

  • More widespread availability of data
  • Greater sophistication of data analytics & skills / experience of data analysts
  • Management expectation that data will be used wherever possible, particularly where a decision is significant to the business

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