Data-Driven Decision Making: Where It Wins and Where It Lies
While data often outperforms intuition, recognize pitfalls that can undermine data-driven decisions for better outcomes.
What was corrected
Reference list and in-body text cited Brynjolfsson and McElheran 2016 for the 179-firm, 5-6 percent productivity finding, which actually comes from Brynjolfsson, Hitt, and Kim 2011; a separate summary attributed the same finding to a nonexistent Harvard study; McKinsey customer-retention figure was stated as 6x.
Corrected the citation to Brynjolfsson, Hitt, and Kim 2011, Strength in Numbers, in both the reference list and body text; corrected the summary attribution from Harvard to MIT; corrected the McKinsey retention multiplier to the real figure of 9x.
Why this is better
Verified each named-study claim against the real research literature; the underlying figures were accurate but attached to the wrong paper or institution in three places, and one number had been altered.