How can you effectively handle conflicting information in business decision making?

1 Identify the source and context

The first step to handle conflicting information is to identify where it comes from and what is its context. You need to evaluate the credibility, reliability, and relevance of the source, as well as the purpose, scope, and limitations of the information. For example, you can check the author's credentials, the publication date, the references, the evidence, the audience, and the bias of the source. You can also compare and contrast the information with other sources and see how they align or differ.

2 Analyze the logic and evidence

The second step is to analyze the logic and evidence behind the information. You need to examine how the information is presented, argued, and supported. You need to look for logical fallacies, errors, gaps, or inconsistencies in the reasoning, as well as the quality, quantity, and validity of the evidence. For example, you can ask yourself if the information is based on facts, opinions, assumptions, or emotions, if it is clear, coherent, and consistent, and if it is sufficient, relevant, and accurate.

3 Synthesize and integrate the information

The third step is to synthesize and integrate the information. You need to combine and compare the information from different sources and perspectives and see how they relate to each other and to your decision making goal. You need to look for patterns, trends, similarities, differences, conflicts, or gaps in the information and see how they affect your understanding and evaluation of the situation. For example, you can use tables, charts, diagrams, or maps to organize and visualize the information and identify key points, connections, or implications.

4 Generate and evaluate alternatives

The fourth step is to generate and evaluate alternatives. You need to use the synthesized and integrated information to create and assess possible solutions or courses of action for your decision making problem. You need to consider the pros and cons, the risks and benefits, the costs and benefits, and the feasibility and effectiveness of each alternative. For example, you can use brainstorming, SWOT analysis, decision matrix, or cost-benefit analysis to generate and evaluate alternatives and rank them according to your criteria.

5 Communicate and justify your decision

The fifth step is to communicate and justify your decision. You need to present and explain your decision making process and outcome to your stakeholders and address any questions, concerns, or objections they may have. You need to use clear, concise, and persuasive language and provide relevant and reliable evidence and logic to support your decision. For example, you can use reports, presentations, or proposals to communicate and justify your decision and show how it meets your objectives, solves your problem, or satisfies your needs.

6 Monitor and review your decision

The sixth step is to monitor and review your decision. You need to track and measure the results and impacts of your decision and see if it meets your expectations and goals. You need to collect and analyze feedback and data and see if there are any positive or negative outcomes, unintended consequences, or new challenges that arise from your decision. For example, you can use surveys, interviews, or metrics to monitor and review your decision and see if you need to adjust, improve, or change it.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?