Considering most successful entrepreneurial stories start by someone following their intuition, which is often Illogical. Which decision making process is best, and what are they good for?

What is Factual Decision Making?

Factual decision-making; is an (external) decision-making process (using systems, policies and or frameworks) based on the analysis of accurate (empirical) data and information.  It is a logic-based risk-averse decision-making process and is an essential ingredient for quality assurance, compliance and precision based decision making.

What is Intuitive Decision Making?

Intuitive decision making; is an (internal) decision-making process utilising our body's interrelated and independent multiple brains, to analyse our perceptions of the available (internal and external) information.  Intuitive decision making is usually associated with innovation and instances where a decision is time critical and where there is limited factual information to make a decision. 

Which Is Best, or Should We Be Using Both?

Factual decision making is essential when there is a strong aversion to risk, or where quality and precision is vital.

Intuitive decision making is essential when dealing with new ventures and the unknown; or when a critical decision is needed imminently, and there is limited tangible information. 

Ideally, first and foremost factual decision should be used where possible, as it reduces risks and improves compliance and quality - if the actual decision-making process is robust and thorough itself. Otherwise, rubbish in, rubbish out. 

Given the speed of change and innovation, increasingly we are finding ourselves trying to make sense of what's coming at us, with little or no empirical data for guidance, we are increasingly finding ourselves having to rely on intuitive decision making.

No matter the decision-making process, be it factual or intuitive, these are skills that can be learned and require practice and repetition to improve the quality and accuracy of decision making.