When I first arrived at Babson College as a professor fifteen years ago, there wasn’t a lot of student interest in analytics. After all, Babson is known for entrepreneurship—the school has been ranked the number one business school in entrepreneurship for 25 consecutive years by US News.
As a result, of course, many of the students who seek out Babson are interested in becoming entrepreneurs themselves. And as a historical rule, entrepreneurs were not a highly analytical bunch. Historically, entrepreneurs believed not in data and analytics, but in their gut. They felt that the best way to succeed with an entrepreneurial venture is to develop a hunch about what the market needs, and try to meet that need with a business plan.
Author: Tom Davenport