收新利18号|新利18lcuk

External Partners Alumni Search Submit Return to home Search Search About About Olin Home Why Olin Equity, Diversity & Inclusion Leadership & Strategy News & Media Events Contact Us Programs Programs Home Explore Our Programs BS in Business Administration MBAs Specialized Master's Doctoral Executive Education Dual Degrees Faculty & Research Faculty & Research Home Faculty Directory Research Research Centers Olin Brookings Commission Olin Award Student Resources Student Resources Home Career Services Center for Experiential Learning Entrepreneurship Academic Calendars Student Organizations For Current Students For Military Veterans Admissions Admissions Home Scholarships & Aid Attend Program Events Visit Olin Ask a Student Student Profiles Request Information Refer a Candidate External Partners Alumni Olin profs pilot values-based/data-driven course at big data center workshop April 22, 2019 By WashU Olin Business School 2 minute read Home News Olin profs pilot values-based/data-driven course at big data center workshop The Center for Analytics and Business Insights, along with the Bauer Leadership Center, hosted a seminar March 26-27 on values-based/data-driven decision-making. The seminar, which hosted nearly 50 executives from a variety of local data-centered companies&＃8212;including Wells Fargo and Teradata&＃8212;was a huge success. Seethu Seetharaman led the morning session for participants in a March 26-27 workshop on values-based, data-driven decision-making. Seethu Seetharaman, director of CABI, kicked off the event with a discussion on hypothesis testing.&＃160; Seetharaman, W. Patrick McGinnis Professor of Marketing, brought statistics to life with riddles and brain teasers. With a group filled with professionals working with statistics daily, Seetharaman&＃8217;s brain teasers still expanded their knowledge and truly kept them on their toes. A quick example of a brain teaser to try at home: &＃8220;A light flashes red 75% of the time and green 25% of time. You have to predict what the next flash will be. Is it reasonable to use a biased coin weighted to flip toward red 75% of the time to predict the next flash? Or is it more reasonable to just predict red?&＃8221; Seethu Seetharaman and Stuart Bunderson teamed up on the March 26-27 workshop on values-based, data-driven decision-making. The answer is actually no. The likelihood of having the coin and the light flash the same color is slim because there are two separate events. The two events will only align 62.5% of the time, so it&＃8217;s safer to predict red from the get-go with its 75% probability.&＃160; The first afternoon was followed up by&＃160;Stuart Bunderson, director of the Bauer Leadership Center. Bunderson, George & Carol Bauer Professor of Organizational Ethics & Governance, discussed values-based decision-making, incorporating values and ethics in business, while backing them with statistical evidence. Bunderson amusingly warned the data-focused audience, &＃8220;We are now entering the domain of moral philosophy&＃8230; we answer which outcomes we&＃160;should&＃160;be striving to achieve through discussion and mindful reflection, informed by theoretical frameworks.&＃8221; Bunderson continued, asking, &＃8220;What are values?&＃8221; Values are beliefs about preferred &＃8220;end states.&＃8221; They can be explicit or implicit, but regardless, represent the fundamental building blocks of an individual&＃8217;s character or organization&＃8217;s culture. Values are all about the&＃160;why&＃160;of a business: the&＃160;how&＃160;represents tactics and execution, the&＃160;what&＃160;are objectives and KPIs, while the core&＃160;why&＃160;are values and the mission. The&＃160;why&＃160;drives the&＃160;what&＃160;and the&＃160;how. At the end of the session, Seetharaman&＃8217;s statistics-heavy lecture paired perfectly with Bunderson&＃8217;s value-based message. The audience collectively resonated with the idea that a business is firmly, at its core, driven by values. However values must guide decisions made and then must be secondly backed by statistics. You must be able to understand your KPIs while still keeping true to your business&＃8217;s mission. About the Author WashU Olin Business School Firmly established at the Gateway to the West, Olin Business School at Washington University in St. Louis stands as the gateway to something far grander in scale. The education we deliver prepares our students to thoughtfully make difficult decisions—the kind that can change the world. Contact Us For assistance in finding faculty experts, please contact Washington University Public Affairs. 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