How to take better decisions!

The last 20 years have been marked by an important evolution in technological innovation, making access to information increasingly simple and widespread. Concepts as big data, data analysis, statistics, will become increasingly in our daily vocabulary

This transformation led to an increased complexity of the analysis performed, making it harder to organizations to be yet ready for this new environment, with implications in loss of productivity or myopia in decisions due to lack of time.

In order to help dealing with that need for a better decision-making process, we hereby have outlined two tools that can help your teams in achieving its’ goals on an more straightforward way. 

a) Eisenhower Matrix: created by Commander Dwight David Eisenhower to try to improve time management by categorizing tasks between important or not important and urgent and not urgent.

  • Important

Urgent: To do

Important tasks for the goals to be done on time. Recommendation: it is important to avoid overcrowding this indicator not to be overwhelmed to perform the tasks under emergency pressure.

Not Urgent: To decide

The tasks that are important to fulfil goals but that can be carried out in a comfortable period of time. Recommendation: do not overload this indicator once it can lead to no action and spend a lot of time in the planning part.

  • Not important

Delegate

It is important to delegate urgent tasks that do not have a strong impact on fulfilling goals. Recommendation: it is necessary to communicate the tasks in a clear and objective way so that delegating does not become self-defeating.

Erase

These tasks should not take an active part of your time. Tip: These tasks can become tasks in different indicators over time, so watch them from time to time.

b) Rule 40-70: created by General Colin Powell to help decision-making processes. The fear of making difficult decisions leads us to the need to seek information or advice while not being sure how much information is necessary for a good decision and when is the right time to do so. According to Gen, Powell  we must make the decision when we have 40% to 70% of required information. Waiting to have more than 70% delays the process and can lead to undesirable delays. Having less than 40% makes decision-making too risky as some of the key variables remain not known.

“These two tools are imple methodologies to improve the decision-making process of an organization, as well as manage its resources. Just like the other tools, practice makes perfect.”

“You can achieve anything you want when you stop trying to do everything”