Behavioral Economics and Business Analytics – How Data Analysis Systems Influence Rational and Irrational Management Decisions
Year: 2025
Type: article
Abstract: This article examines the interaction of behavioral economics and business intelligence systems in the context of managerial decision-making. The article analyzes how modern data analysis tools, by providing objective information, simultaneously enhance the influence of cognitive biases and behavioral patterns on the process of data interpretation and final choice. Special attention is paid to such phenomena as the anchor effect, confirmation bias, loss avoidance, and heuristics, which systematically distort the rationality of decisions even with technologically advanced analytical platforms. The study demonstrates the need to integrate behavioral insights into the design of BI systems to mitigate irrational deviations and improve the effectiveness of management processes in the context of digital transformation.
Source: Russian Journal of Management
Author: Aleksandr Petrov
Institution: Financial University
Language: English
Subfield: General Decision Sciences
Field: Decision Sciences
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W7125412854