Learn more about problemsolving with this collection
Conducting market research
Analyzing data to make informed decisions
Developing a product roadmap
They are shortcut strategies that save time and effort by focusing our attention and simplifying the way we process information. The rules aren’t universal- they’re tailored to the particular situation and the person using them.
We use simple rules to guide decision making every day.
They guide the choice of what to do (and not do) without requiring a lot of time, analysis, or information.
They work well for categorical choices, like a judge’s yes-or-no decision on a defendant’s bail, and decisions requiring many potential opportunities to be screened quickly.
These rules also come in handy when time, convenience, and cost matter.
They rank options to help decide which of multiple paths to pursue.
They are especially powerful when applied to bottleneck activities - pinch-points in companies, where the number of opportunities swamps available resources, and prioritizing rules can ensure that these resources are deployed where they can have the greatest impact.
They help you learn when to reverse a decision.
Stopping rules are particularly critical in situations when people tend to double down on a losing hand.
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4 Simple Rules on How to Make a Decision
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