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Testing and validating assumptions is crucial as an unchecked wrong assumption can lead to poor thinking and bad decision-making.
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Both quantity and quality of data is important. Look further than summarized information and analyse the underlying data
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Thinking in terms of models or analogies, can be useful for simplifying a situation and quickly finding alternatives and strategies.
Models can help you quickly generate insights and strategies
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Analyse the data and understand the difference between facts and assumptions made from Data. Assumptions should never be treated as facts.
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First principles are the fundamental building blocks in thinking and decision-making. These are core elements that are true regardless of situation and context.
Once you have a good set of first principles, you then have the elements that you need to start creating new options and new solut...
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Assumption = something that is taken for granted.
Scientists like to challenge conventional thoughts and turn those ideas upside down. They do it by experimenting with the assumption and then testing it to see if the results prove it to be true. Do the same thing with your basic ass...
Every decision is based on assumptions. If you don’t understand these assumptions, you may make a bad decision.
It’s often helpful to ask yourself first, and then your colleagues, “What are we assuming in this scenario?”
Status quo bias is when we prefer that our environment and situation should remain unchanged.
The bias has the most impact in the area of decision-making, as we tend to prefer the more familiar choice over the less familiar, but often better, option.
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