Kevin & Dave use the Scientific Method!
The title is meant to be a bit tongue-in-cheek. We all know that this model has been around a few centuries now. What Friga proposes isn’t necessarily new, but he advocates for a return to the basics as it were. A friend of mine said a long time ago, “If you never leave the basics, you don’t have to worry about going back to them.”
Apparently, many top-level business executives have left the basics of this model due to 3 factors that Friga describes in his introduction:
- Information overload
- Shareholder pressure
- Shortened business cycles
Those factors can be debated, but for anyone used to dealing with strategic business decisions, you quickly realize that you simply don’t have the time to do deep research on every decision. Many decisions are made using your gut. Friga proposes framing those decisions using the Scientific Method instead of just your gut.
So what does it look like? It’s just like you remember from your junior high science class:
- Define the problem
- Develop a hypothesis
- Gather data
- Interpret data
- Make Decsion
The article is a fairly quick read so I’ll leave it to you to explore the article. The purpose of my review is to tell you if it is worth your time or not. It is definitely worth your time. There are some nuances that Friga highlights that will add to your decision toolbox.
The biggest improvement that stood out to me was in step 4. Many times, we interpret the data to fit our own biases. We see this in the business world due to politics, budget constraints, and market forces. Instead of giving in, Friga recommends you examine data fairly – for and against – your hypothesis. If you can do that; if your team can do that, you have a much better chance to make a good, data-supported decision.
Check out the article, you won’t be disappointed.