The Importance of Reliable Information When Making Decisions
Wednesday, 30 December 2020

In the business world, decisions are made every day that impact many people within and out-side of your firm. Managers make decisions about which projects to prioritize. Executives make larger, and high-level decisions about which direction to take the company in. And workers make hundreds of micro-decisions per day, too, regarding how they should complete their work. All of these decisions are based off evidence - but is there a way of making that evidence better and more reliable? That’s what this short piece aims to understand and answer.

Access to Information

 
It’s generally seen as a good thing that we can access as much information as we can in today’s world. The old saying that a toddler today has more information at their fingertips than a US President before World War II could not be more true in the era of open and accessible internet resources.
But are we accessing the right information - the reliable and informative evidence we need to base our decisions upon? In business, this information is less likely to come from internet sites, and is much more likely to come from conversations. Accessing information is a function of communicating well throughout a business.
 

Communication Technology

 
So, if you need to access the perspectives of different parts of your business in order to make smart and accurate decisions, then you’re going to need a number of communication channels on which you can rely for super-fast responses and instantaneous data sharing.
Some of these apps and communication programs are well-known: some are social media apps, and others are productivity and team-working apps like Slack. They let different parts of the company know what information they need to make faster and more impressive, better deci-sions at a moment’s notice.
 

Other Analytics

 
But the world of technology isn’t totally about getting data from A to B. It’s also about pro-cessing data to determine if anything important has gone unseen. Missed insights are one of the single points of missed opportunities for businesses across the world - and new software promises to help identify the areas of businesses that ought to change.
As such, today’s businesses operate with HR analytics as a standard instrument for understand-ing team hours, work rates, motivation, and many other metrics. They help HR teams make bet-ter decisions, generated by the insights that you’ll only get from a large and sophisticated tech product.
 

Reliable Information

 
We want to return to that first word as we conclude this article: reliable information. It’s ac-knowledging and understanding that some information is biased and unreliable that can help businesses avoid the pitfalls of poor decisions based off information gleaned from unreliable people.
Part of the process of finding reliable information is seeking the staff members and manager most likely to deliver it to you. And that means ending trustworthy employees, and relying on them. Don’t listen to those who’ve a proven track record of lying: they’ll only badly influence your decisions in the long run.
These insights will show you how important accurate and reliable information is for a business decision made at speed in the modern world.
 
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