Intuitive Decision Making Theory

The intuitive decision making theory can be described as the process of receiving input and ideas without knowing exactly how and where they came from. Intuitive decision making is far more than using common sense because it involves additional sensors to perceive and get aware of the information from outside. Sometimes it is referred to as gut feeling, sixth sense, inner sense, instinct, or inner voice. Information acquired through associated learning and stored in long-term memory is accessed subconsciously to form the basis of a judgment or decision. Our ability to make hunch decisions varies considerably; therefore, intuition can either be a useful ally or it can lead to costly and dangerous mistakes. Intuition may be just as effective in decision-making as an analytical approach, and sometimes more efficient and effective, depending on the decision-maker's level of expertise on the subject at hand. Analytic decisions are great for breaking things down into smaller parts, which is necessary for a math problem. But intuition is about looking at patterns and wholes, which is needed when making quick decisions about whether something is right or wrong. For example, if one works in an industry where rising up the ranks occurred, his expertise will likely serve an intuitive approach. On the other hand, if one gains expertise in another field, he may not have the background to rely as strongly on intuition.
Analytical thinking has always been viewed as a more effective means to critical reasoning compared to the intuitive approach. Yet as businesses place a greater emphasis on the speed and effectiveness of decision making, the intuitive approach has been identified as an increasingly important tool.