In-house Executive Training Program
Decision-Making in a Digital Age
The coronavirus pandemic has greatly accelerated the digitalization and with it the availability of data: between January 2020 and December 2021 alone, more data was collected than in the entire history of humanity before. In the next two years, the total amount of data stored will likely double yet again. Many decision makers are still of the opinion that “The more data you have, the better your decisions will be”. But if this were true, the quality of decisions should double with the availability of data. Instead, despite billions being spent on data science teams and business intelligence units, odds are your organization isn’t twice as smart as it was 2020. At the same time, The Economist finds that more than two-thirds of senior managers continue to rely on their intuition. Are these managers simply wrong or outdated?
Our in-house programs are based on 30 years of world-leading research, spear-headed by the Max-Planck-Institute for Human Development under Prof. Gerd Gigerenzer, one of the most influential psychologists and decision scientists in the world today. You will learn how to navigate different decision environments, gain an in-depth understanding of when and why intuition can be a powerful tool, how less information and complexity can drive better decisions in dynamic and uncertain environments, when new modes of work such as agile management will be effective, and when to use Big Data and Artificial Intelligence.
Types of Modules
Our training modules take two forms: knowledge transfer modules which take half a day each and in which the latest scientific insights from behavioural science, data science, and the science of decision-making are passed on to participants in interactive talks; or competence transfer modules which take a full day each and in which participants additionally learn to apply what they have learned in small-group exercises and develop solutions tailored specifically to their work environment. In-house trainings may consist of a mix of knowledge transfer and competence transfer modules.
Module 1: A Map and a Compass – Navigating an Uncertain Business World (required)
Important decisions in management are not only risky. Often it is difficult to precisely quantify such risks. This, we refer to as decision making under uncertainty. Maybe surprisingly, ample research shows that under uncertainty, less information and complexity can often yield better decisions than intense information gathering and complex analyses. Participants gain an intuitive understanding of how to determine what type of decision environment they face—calculable risk or true uncertainty.
Module 2: Which Hype is for me? Assessing new technologies and modes of work
Artificial intelligence, machine learning and “big data” can be a powerful source for new products, services and insights into markets. Similarly, new modes of work such as Agile or Design Thinking can boost productivity of an organization. Yet, both of these “hypes” work in very different environments that can be broadly differentiated along the lines of risk and uncertainty. Participants learn to better understand and assess the value of technological or other innovative trends for their organization and teams.
Module 3: Developing effective decision tools for an uncertain world
Information constitutes the building blocks of any decision strategy. Under uncertainty, it is important to only rely on the most reliable information to guide decisions. Ignore the rest. Participants will understand why this is the case and learn to identify the relevant building blocks for the tasks that they and their organization faces. They will learn how to combine these building blocks into decision strategies that present high-functioning responses to different degrees of uncertainty.
Module 4: The Power of the Gut and an Empowering Organizational Climate
Intuition is an important source for many decision makers. Under uncertainty, it can be at the base of a high performing decision strategy. But even good intuition is often ignored. Instead, decision makers opt to “cover their asses”. This causes large damages—not only financially but also in terms of the innovativeness of an organization or employee satisfaction—and is widespread across all hierarchy levels. Participants learn when they should trust their intuition—and when they should not—as well as how to create a risk-culture for effective organizational learning that fosters good judgement under uncertainty.
Module 5: Augmented Intelligence
Human and artificial intelligence are fundamentally different. Artificial intelligence processes vast amounts of data and finds correlations a human would not find in their lifetime. Humans think causally and can anticipate future consequences with very little data. Augmented Intelligence combines the best of human and machine intelligence to create systems that solve problems more effectively for your organization.
Module 6: Q&A Session with Prof. Gigerenzer (1,5 hours)
Participants will get a chance to discuss what they have learned with our special guest Gerd Gigerenzer, who has spearheaded 30 years of research on the concepts on which the trainings are based. The module may be taken independent of the other modules but profits from the knowledge transferred in them.
Structure of in-house Trainings
In our in-house trainings, the module “A Map and a Compass” lays the necessary groundwork for all subsequent modules and is thus a required part of all programs. Your organization may then select additional modules as best suited to your current needs. The module “Augmented Intelligence” brings the key insights of all modules together and can only be selected once the other modules have been completed. Participants acquire a certificate for each module they have completed. The “Q&A Session with Prof. Gigerenzer” stands parallel to the other modules and can be booked individually. However, the Q&A Session benefits greatly from prior knowledge gained in the other modules.
Trainers
Prof. Dr. Gerd Gigerenzer is a former Max-Planck Director and co-founder of Simply Rational. He is the most-cited German psychologist and one of the most influential psychologists in the world today.
Prof. Dr. Florian Artinger is a behavioural economist and data scientist. He is a co-founder of Simply Rational, Professor of Digital Business, and associate researcher at the Max-Planck-Institute.
Dr. Niklas Keller is organizational psychologists and decision scientist. He is co-founder of Simply Rational and associate researcher at the Max-Planck-Institute and the Charité University Hospital.
About Simply Rational
Simply Rational is a spin-off of the Max-Planck-Institute for Human Development, a globally leading research institute on decision-making under uncertainty. Former Max-Planck Director and co-founder Prof. Gerd Gigerenzer has published over 600 articles on the topic and his award-winning books Risk Savvy: How to Make Good Decisions and Gut Feelings: The Intelligence of the Unconscious have been translated into over 30 languages. We provide access to the latest scientific insights in the behavioral and data sciences to professionals in business, healthcare, and society. Our trainers are experts in behavioral science, data science, or behavioral training. Together, we have trained several thousand professionals.
For Questions and Booking
Please directly contact Dr. Niklas Keller vie email (niklas.keller@simplyrational.de) or phone (+49 (0)176 2041 8755) if you have questions.
Senior Management / Leadership / Decision Makers
max. number of participants: 20
Language: German/ English
Online:
2.375,- € (+19% VAT) per “Knowledge Transfer”-module (half day)
4.725,- € (+19% VAT) per “Competence Transfer”-module (full day)
5.750,- € (+19% VAT) for the module “Q&A Session with Prof. Gigerenzer”
Onsite:
4.750,- € (+19% VAT) per “Knowledge Transfer”-module (half day)
9.450,- € (+19% VAT) per “Competence Transfer”-module (full day)
11.500,- € (+19% VAT) for the module “Q&A Session with Prof. Gigerenzer”
Your organization or a location of your choosing
