From the course: Executive Decision-Making
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Getting the right data for making a decision
From the course: Executive Decision-Making
Getting the right data for making a decision
- Big decisions require a lot of data. But the flip side of that is you have to be aware of analysis paralysis. When you're making an executive decision consider multiple sources of data. Look for internal data, external data, sometimes consider analogous situations, perhaps even in another industry. Look at financial data, customer data, look at your operations. Are there industry reports that you can rely upon as you're trying to figure out which way you should go with your decision? As you're gathering data don't just tell people the data you want, tell them what you're trying to do with it. You'll get a better answer. Many times there's data out there that exists that you may not be aware of. And if you go to somebody with a very focused data request you're likely to get back exactly what you ask for. However, if you tell them I'm trying to prove this and here's the data I want. They may well come back and say,…
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