This month, we are focusing on the three types of intuition that we use in business and in life that will help you get clearer as to your natural strengths as a leader and what you might need to develop or hire around you to have a smart, innovative team.
Today, we are focusing on the third type of intuition, which I call informational intuition.
Informational intuition is the ability to synthesize large amounts of data and decode information rapidly for analysis, pattern recognition, and decision making. Those who possess this gift have an innate ability to rapidly recognize patterns and analyze information and experiences—including those stored in the subconscious mind. Financial investors, data scientists, day traders, researchers, and engineers often excel at this ability.
How does informational intuition show up in business? I recently interviewed Cheskie Weisz, CEO of CW Management Realty, which specializes in Real estate property management and development headquartered in Brooklyn, New York. Cheskie built his business on trusting his gut instinct and using informational intuition to know the exact value of the buildable square footage, development costs, and bottom-line potential income it will produce after development.
Without looking at spreadsheets of data, Cheskie can quote you on the square foot value of a new apartment unit on the corner of Van Brunt and Verona, in the Red Hook neighborhood of Brooklyn, and how that value changes if a credit union or Starbucks opens next door. Imagine all of the calculations that factor into the changing dynamics of a neighborhood!
Informational intuition comes with experience. It comes with pattern recognition of knowing your industry, your market, your products and services over a given time.
You are able to take complex sets of data and arrive at accurate conclusions in seconds. Cheskie says that "if you can’t get the value of a building within 25 seconds of walking into it, you are in the wrong business." He has people on his team that verifies his gut instinct with number crunching, yet imagine how much time he saves his company in decision making. Informational intuition comes from "going all in" on your craft. "When I meet a buyer or seller, I can tell within 25 seconds if there's a deal to be made," says Cheskie.
These three types of intuition: directional, social, and informational assist you in the untapped power of more accurate, well-rounded, and faster decision making. For more information on how to train your teams to develop intuitive decision making, contact [email protected].