The research on decisions, models, and data (DMD) is interdisciplinary research on models, be they mathematical representations, mental models, or other frameworks, to help leaders and their organizations better interpret data, uncover new possibilities, and improve their decision-making. Our approach draws from fields as diverse as data science, analytics, cognitive psychology, sociology, and economics.
The abundance of data and the increasing adoption of intelligent machines raise questions about the future role of human-based decisions in organizations. At the same time, the profound crises the world is experiencing today have highlighted the limits of data-driven predictions and the need to decide even when data are scarce.
The DMD research is based on the fundamental premise that human decision-makers are most effective when they properly leverage their unique ability to model and represent the world. These models enable inferences beyond the data and reveal new courses of action in a way that machines cannot. The DMD research explores how individuals and organizations can create and apply better models, and how data-driven technologies complement – or hinder – humans’ ability to represent.