logo share us

Informed Decision-making

   

Definition: Informed Decision-making is the process in which a decision is made based on facts or information. When facing a decision with significant complexity, risk, cost or consequences, executives need apply informed decision-making, which complements intuitive aspects of uninformed decision-making with information and logic. This provides the decision-maker with a significantly better chance of a successful outcome.
A similar term is educated decision-making, in which decision-makers have learned about the subject before making up their mind — they have been educated or educated themselves and understand the subject well or even completely.


   
   
💡

Learn more about Informed Decision-making.



More on decision support: Activity Based Costing, Artificial Intelligence In Marketing, Big Data Analytics, Business Intelligence, Business Performance Management, more on decision support...


MBA Brief offers concise, yet precise definitions of concepts, methods and models as taught in a study Master of Business Administration.

We like to keep things short, and provide links to learn more about your subject.


add us to your desktop

Add MBA Brief to your desktop / iPad

   

© 2024 MBA Brief - Last updated: 24-7-2024  -  Privacy   |   Terms