The Knowledge Exchange / Business Analytics / Blackjack and business: It’s not luck of the draw anymore

Blackjack and business: It’s not luck of the draw anymore

Jeffrey Ma, author of The House Advantage and inspiration for the book Bringing Down the House, compares blackjack to organizational decision making: 

Blackjack was invented in the 1930s, and card counting wasn’t introduced until the 1960s. For 30 years, blackjack players made decisions based on gut feel. But once they had a chance to make better plays with more information and knowledge from card counting, more informed people were sitting at the blackjack table. Likewise, organizations had to make decisions based on gut feel 50 years ago without the data and technology to make better decisions. Now that those tools are available, they’d be fools to not at least incorporate them as part of their decision-making process.

Hear more from Ma on the importance of analytics in a successful organization in this video

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