1291: Predicting The Future With Behavioural Science


Manage episode 268694600 series 2391590
By Neil C. Hughes. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.

Dectec is a Behavioural Science consultancy where they help clients predict future market responses and applying their insights across far-reaching sectors, including banking, telecoms, and retail. The company was created to provide the most accurate and best value forecasts available on how people will behave in new situations.

The team are enthusiastic proponents of behavioral research, randomized controlled trials, and data modelling. Founded in 2002, they are based in London and are staff-owned and are members of the Market Research Society and Management Consultancies Association.

I wanted to learn more about how they model human behavior to reveal the responses to different scenarios, giving clients a significant edge over their competitors in choices across range, pricing, communications, and offer. Dr. Henry Stott is the Co-founder of Dectech and a passionate proponent of doing more randomized controlled trials in business.

Henry has over 25 years of commercial experience across retail, finance telecoms, and other sectors. Before Dectech, he helped to create Oliver Wyman's Risk practice. We talk about what factors drive people's behavior and decision making. We also explore the alternative methods out there to predict the 'future', and I learn how accurate they are.

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