How To Tame Your Cognitive Biases

By Simon Fawkes | Podcast Episodes

Dec 05
Cognitive Biases

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Most of us pride ourselves on our ability to make informed decisions, based on our innate ability to analyse information and identify the most relevant factors. Some people prefer detailed analysis while other rely on judgement or “gut feel”. But can you really trust your own brain? Can you learn how to tame your cognitive biases so that you can make better decisions?

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In This Episode, You'll Get Some Great Tips on Taming Your Cognitive Biases...

  • ​Cognitive Bias is not personal, it is all around us. This is because biases are inherent in human nature and everyone has them.
  • We are not able to recognise our own biases. This means that we can see the bias in others, but not ourselves..
  • There are four problems that biases help us address: Too Much Information, Not Enough Meaning, Not Enough Time and Not Enough Memory. Furthermore, these four problems and have problems of their own, as shown in the following table.

Confirmation Bias

Neglect of Probability

Over-Confidence Effect

Primacy and Recency Effect

We don't see everything.

Our search for meaning can conjure illusions.

Quick decisions can be seriously flawed.

Our memory reinforces errors.

Cognitive Biases - Resources

Courtesy of: Visual Capitalist

Questions posed by the interview: Cognitive Biases

  • What important decisions will you be making in your personal and business life? What are the implications of making a hasty decision? 
  • How might debiasing techniques help you make better decisions?
  • Given that we cannot recognise our own biases, who could you turn to for help in making better decisions?​

Introducing Ricky Collins

Ricky Collins

Ricky is the founder and director of Good Decision Ltd, which supports clients in making consistent and transparent decisions when Good Decisions Count.

Debiasing techniques can help you tame your #cognitive #biases and hence make better decisions.

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I hope you found this helpful. If so, please share it with your connections.​

I would love to hear from you too. Do share your thoughts in the comments below.

Simon Fawkes

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Summary
How To Better Tame Your Cognitive Biases And Make Better Decisions
Article Name
How To Better Tame Your Cognitive Biases And Make Better Decisions
Description
Ricky Collins explains Cognitive Bias, which is all around us. There are four problems that biases help us address: Too Much Information, Not Enough Meaning, Not Enough Time, Not Enough Memory
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Publisher Name
Business to Markets Ltd
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About the Author

I believe in thinking differently and I love challenging perceived ideas and ways of working. This brings new insights that can be the catalyst for taking a different approach. That’s why I love coaching SME business leaders to help them increase sales and profits.

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(1) comment

Ricky Collins last month

Appreciate your help Simon in getting the message about cognitive bias and Good Decision out there.

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