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Gather essential information
- Okay, you understand the type of decision you're facing and you're ready to get to work. Start by asking yourself whether or not you have the information you need. Years ago, everyone had to rely heavily on experience and intuition, but today decision makers are swimming in more data than they could every possibly use. That's nice, but I want you to think seriously about data accuracy and the amount of data you need. In terms of accuracy, look, you know that all data is not created equal. Sometimes a measure reflects something and you can have great confidence in it. Other times, well, you're not so sure exactly what the data is saying because of all the factors that were included. To be clear, we use data to create metrics in order to make decisions. For example, a whole bunch of sales data from the field can be used to compute a sale's closing rate metric, which then helps sales managers make decisions about how to coach and develop the sales force. The challenge is that some…
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