Decisions, Decisions

Nov 09, 2021

The world we currently live in is surrounded by knowledge and facts.  The internet has become the go-to place to search for new information,  the answer to a riddle,  a funny skit or even medical diagnosis.  The question is often asked whether we can sometimes wait for too much information before we make a decision and in that respect how much is too much.

The late General Colin Powell famously quoted the 40-70% rule of decision-making.  The rule would state that, if you make a decision with less than 40% of the information you were making a guess - a stab in the dark approach, shooting from the hip.  There wouldn’t have been enough information to assess the risks, consequences and the possible outcomes of taking such a decision.  While there was a chance that you could succeed you could just as likely, fail.  

If however, you wait to make a decision until you know more than 70% of the information then you may have waited too long...

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