A good decision now, on imperfect data
Being able to make decisions when you know you have imperfect data is so critical. I was always taught that “A good decision now is better than a perfect decision in two days.” Many people I know in business recoil at that statement. Many colleagues in graduate school had come from places where they were analysts at a company and their job was to analyze and analyze and analyze. They couldn’t believe somebody would say that you should actually encourage people to make a decision with imperfect information — but I firmly believe you should. I think that’s really important for leaders to incorporate. It’s something that the White House has to do all the time. It’s great to analyze things but at some stage you’re just spinning your wheels.
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