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40. Data is Overrated

By Patrick Lencioni - May 2020

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40. Data is Overrated

At the Table with Patrick Lencioni

Episode Summary

Pat and Cody discuss decision-making, data, intuition and why we need more integrative thinking.

Show Notes

1:50 — Patrick Lencioni explains the two reasons why data is overrated (Biased and Inaccurate).

2:43 — Cody Thompson deconstructs the idea that data is an absolute fact.

3:23 — Patrick Lencioni shares examples of data being inaccurate. 

5:28 — Patrick Lencioni explains what else we need to consider besides pure data. 

6:06 — Cody Thompson shares an example from the NFL about using intuition vs data when calling plays.

7:32 — When Patrick Lencioni works with CEO’s, how do these leaders make big decisions?

8:31 — Patrick Lencioni asks the question: why do so many leaders believe data is everything they need?  

9:06 — There are four big reasons why leaders rely too heavily on data.

9:14 — Reason 1: Leaders are afraid of being blamed for a bad decision. 

10:05 — Cody Thompson believes there are two camps within this idea: intuition vs data driven.

10:58 — Reason 2: It’s impossible to scientifically validate intuition. 

11:23 — Patrick Lencioni’s experience related to data driven decisions at a software company.

12:45 — Cody Thompson’s experience at a startup company that was very data driven. 

13:29 — Reason 3: Data driven muscle memory. 

15:09 — Reason 4: The sophistication bias.

15:50 — Cody Thompson shares an exercise The Table Group uses to make decisions.

17:48 — Patrick Lencioni shares that it is easier to defend data, but often not wise. Don’t deny the wisdom of intuition.

18:38 — Cody Thompson wraps up with a call to leaders: it’s okay to relinquish some control data has in decision making.

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