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.


   

   

More on informed decision-making. More on decision support: Activity Based Costing, Artificial Intelligence, Business Analytics, Business Intelligence, Business Performance Management, more...

   


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