How to Make Better Decisions with Less Data

Assignment Details: (Marks 05)

Read the attached article titled as “How to Make Better Decisions with Less Data” by Tanya Menon and Leigh Thompson, published in Harvard Business Review, and answer the following Questions:

Summarize the article and explain the main issues discussed in the article. (In 500-600 words) (Marks 2)
Discuss in relations to what you have learnt in the course about the four steps of intentional thought to help convert data into knowledge and wisdom? Use additional reference to support your argument. (In 200-400 words) (Marks 1.5)

Critical Thinking Question

If you collect too much information for analyzing a decision, you can suffer from analysis paralysis, where you spend too much time thinking about a decision rather than making one. Recall a major financial decision you made recently, such as of a car or housing purchase or rental. Describe your process for making the decision. How could analysis paralysis have affected this process? (In 200-400 words) (Marks 1.5)
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