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Home --- Topics --- November 2023 5th: If you make a mistake in analyzing the information, you will make the wrong decision.

November 2023 5th: If you make a mistake in analyzing the information, you will make the wrong decision.

Many managers who make incorrect business decisions make mistakes in analyzing information. Even if the information received is correct, if the information analysis is incorrect, the wrong decision will be made. If managers continue to use the wrong information analysis methods, they will end up repeatedly making incorrect business decisions. Managers must constantly check themselves to make sure they are not analyzing incorrect information. Information analysis determines the fate of a company.

November 2023 5th: If you make a mistake in analyzing the information, you will make the wrong decision.

Are you judging information based on your assumptions and preconceptions? The future of the company is in jeopardy due to managers' assumptions and preconceptions. If you're lucky, you might even get one hit. However, it is not good to leave management to chance.
Quantify information. To make it easier to chemically analyze things, let's convert things that are intuitive and ambiguous into numerical values. By quantifying them, it becomes easier to judge their priority and necessity.
Make information visible. Also, if possible, it would be a good idea to organize it in a way that is easy to see and make decisions. When discussing in meetings or making management decisions, keep visualized information at hand. Management decisions may vary greatly depending on whether or not you have "easy-to-read" information at hand.
Divide information into groups and organize them. Erase information that becomes noise or information that is not useful for management decisions, and organize the information so that it is easier to make management decisions.
Let's focus on changes in information over time. Information changes over time. By examining these changes, it becomes easier to predict the future.
Pay attention to the expiry date of the information. Making business decisions based on outdated information can lead to major failures. Make sure that the information you have is not outdated, and always pay attention to new information.
The purpose of information analysis for managers is not to predict what will happen in the future, but to decide what to do from now on. Obtaining information, quantifying it, visualizing it, categorizing it into groups, and performing various analyzes are all done in order to decide what to do next. When analyzing information, it is important to always ask yourself, "What should I do next?"

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