[1]Decision making speed > accuracy:

    Most decisions - say 90% - we make in our lives are reversible.

    As a general principle for these reversible decisions, I've found it
    helpful to prioritize speed of decision making over accuracy.

    This sounds crazy at first - why wouldn't we try to get decisions
    right?

    It turns out there's a huge cost in waiting for all the information
    to appear. So, if we prioritize making the decision quickly instead,
    we can also go back and change the decision if we see data that
    tells us otherwise.

    Over the long run, two things happen. First, quick experimentation
    beats deliberation.

    And, second, with more repetition, we begin to develop a better gut
    and nose for the right direction. At that point, decision making
    speed morphs into decision making velocity (velocity = speed +
    direction - in this case, a direction that is in the ball park).

    Decision making velocity, in turn, leads us to good judgement.

  (Via [2]A Learning a Day)

  Anyone know the source of the 90% stat about decisions being
  reversible? That number seems high to me.

  Regardless, there is an often un-calculated cost to delaying a decision
  in the pursuit of perfection.
    __________________________________________________________________

  My original entry is here: [3]Decision making speed > accuracy. It
  posted Mon, 25 Feb 2019 10:06:14 +0000.
  Filed under: business,

References

  1. https://alearningaday.blog/2019/02/21/decision-making-speed-accuracy/
  2. https://alearningaday.blog/
  3. https://www.prjorgensen.com/?p=2648

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