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Understanding Cognitive Bias

The word bias brings with it a lot of negative connotations. You might say we have a bias with the word bias. The truth is, we all have biases. Using biases is one of the ways we navigate our day. As a leader, understanding your biases, knowing when you are relying on them to make decisions and being able to interrupt that process can take you from a good leader…to a great one! Mike Butler, the Chief Technology Innovation Officer of First Merchants Bank, has dedicated a good part of his career to studying cognitive biases and their effect on innovation and create problem-solving. Our conversation covers a lot of territory from the ten most common cognitive biases to diving deep into four of the ten.

Mike Butler serves as the Chief Technology Innovation Officer (CTIO) for First Merchants Bank.  Having served as a Developer, Business Intelligence Manager, Director of Business Intelligence, and CTO in financial services for the past 19 years, Mike has a history of building teams and technology to build business value.

As a CTIO, he is responsible for innovation, architecture, development, data engineering, and agile programs.  Mike holds a degree in management information systems and an MBA from Ball State University and is currently pursuing a doctorate in Technology at Purdue University.  He currently serves as a volunteer for both the Information Systems and Business Analytics advisory boards at Ball State.  Mike’s primary interests are software development, data engineering, fraud analytics, cognitive bias, innovation, and leadership.

You can find his blog at www.thedatahitchhiker.com.