We never see Trump or Brexit coming because we drown in data and biases

Markets were sent reeling after Britain’s unexpected vote to leave the European Union. Less discussed in the analysis that followed this result was what lessons we can all take from our collective failure to predict it. The Brexit shock is a perfect instance of two crucial decision-making failure modes: overreliance on data and the presence of biases.

...Mike Ross and Davide Pisanu are co-founders and Blanche Ajarrista is an analyst at Montreal-based boutique consulting firm Juniper.

Read full article: The Globe and Mail, July 4, 2016