Wine Business Consulting, Forecasting and Analysis Services

This is the third article in a series that focuses, basically, on how our brains are wired in a way that misleads us to make poor business decisions. The first two articles can be found here and here. Though we humans have learned to gather and utilize facts, data, evidence and logic, we do so poorly for innate, biological reasons. Those of us in the wine industry are not exempted from this. If you are regular reader, you know that I am passionate about using facts, data,

Cognitive Biases in the Wine Industry, Part 2: Confirmation Bias This is the second article in a series that focuses on how our brains, which are still wired to deal with Neolithic tasks, often mislead us into making poor business decisions. Though we have learned to gather and utilize facts, data, evidence and logic, we do it poorly for innate, biological reasons. Those of us in the wine industry are not exempted from this. These human hardware glitches are called cognitiv

In my line of work there is, of course, an enormous emphasis on data, facts, evidence and logic. These are the fundamentals of making the best business decisions. But we, as humans, are wired to skew, ignore or react to these inputs in ways that keep us from making optimal decisions. We’re biologically wired to do so, since we evolved in a world where every decision had to be made quickly and by instinct. We always had to “go with our gut.” Now that we are running busine