Reputation Strategy and Analytics in a Hyper-Connected World

Chapter Two Progress through the Revolutionary Storm: Why Data Science Matters

Executive Summary: Without a scientific methodology, Reputation Strategy becomes a patchwork of hunches and guesswork. While there is nothing inherently wrong with good old-fashioned human judgment, it can be augmented and strengthened through science. The speed at which information travels makes it virtually impossible to craft effective responses without understanding the full context of events and situations. Data science offers an objective perspective and provides a wider range of viable options for responding effectively to events that are beyond our control.

Taking an Iterative Approach

In his seminal book Thinking, Fast and Slow, Nobel laureate Daniel Kahneman writes that we have two psychological “systems” for responding to the problems we encounter in everyday life: “System 1” is the fast, instinctive response, while “System 2” is the slower, carefully considered response.

“System 1 operates automatically and quickly, with little or no effort and no sense of voluntary control,” he writes. But System 2 requires conscious attention, intense focus, and studied concentration. We use System 1 to swerve quickly in traffic or detect an angry expression on someone’s face. We use System 2 to balance our checkbooks or calculate the odds that we’ll win a hand of blackjack.

Kahneman’s basic theme resonates with me because it helps explain why data science has become an absolutely essential component ...