“What is your gut telling you? Go with your gut instinct!” Sound familiar? When faced with an issue or decision that needs to be made, many of us choose to follow our first, instinctive reaction and in many occasions this can be the best route to take and provides us with the success we were looking for! More and more of us are choosing to take into account our personal and emotive reflections when making a decision, rather than simply always just relying on hard, solid facts…
The FORTUNE Knowledge Group and global advertising agency Gyro recently conducted a study on 720 US Senior Executives to find out whether they chose to rely on their gut instinct or solid, hard backed-up facts and figures. Results showed that although data is still being heavily relied, depending on emotions to make decisions is most dominant. 62% of respondents said it is necessary to rely on gut feelings and ‘human factors are the deciding factors‘, with 65% of executives stating the importance of subjective factors that cannot be quantified (including company culture and corporate values) when evaluating competing proposals.
There is an increasing amount of data, figures and statistics available at our fingertips, however, this actually has the opposite effect of needing to rely more on soft factors such as emotions, company culture and reputation when making choices. It can become overwhelming trawling through data and attempting to resolve which option fits the bill best for you! In light of this, 61% commented on the importance of human insight leading analytics when making decisions. As Christopher Becker, CEO & CCO for Gyro commented, “A side effect of the tsunami of digital content is, too often, there is an utter lack of human relevance.” The findings pulled out the key factors hindering a solid analytical approach as: insufficient analytical capacity (37%), excessive data volume (34%), and rapid growth in the types of information available (31%).
What is interesting to notice from the study was also the impact on choosing a business partner through more attention on the importance of emotions and intangible factors. A company’s reputation for superior products/service was highlighted by 70% as having a strong influence and 53% looked for an ’employee culture known for excellence’. Jed Hartman, Group Publisher Worldwide of TIME, FORTUNE and MONEY, who oversees the FORTUNE Knowledge Group, rightly concludes that “Decision makers do not just want a partner who looks good on paper. They want to create a relationship that can lead to a successful, long-term partnership.” Whether it is a personal or business relationship, aspects such as values, reputation, trust and emotion will always be placed high on the decision-making ladder.
Taking into account your emotions and instincts on decisions makes the process more personal to you and allows you to put your own ‘unique stamp’ on why you have come to the conclusion. Facts and statistics should definitely not be ignored and they still play an integral part to making a decision. Instead, a joined-up approach of trusting what your instinct and emotions are saying, aligned with what is ‘black and white’ on paper should be followed for the best chance to success.