The Sure Word for Today: God Is Awesome.
Reaching A Decision: Utilising Information. — Part 2.
This Book of the Law shall not depart out of your mouth, but you shall meditate on it day and night, that you may observe and do according to all that is written in it. For then you shall make your way prosperous, and then you shall deal wisely and have good [a]success.
Joshua 1:8 (Amplified Bible)
How do you arrive at making decisions? Are you in haste or do you take the time to validate the issue, do systematic research and come out with the best solution? Decision-making rests on your ability to predict the future. With this, the need arises for you to develop methods of improving the accuracy of your forecasts and also ways of using prediction made by others to the best effect. The Stock market is a trade that solely relies on information per time. The future rarely imitates the past accurately, there could be some similarities, but it is not always the case.
Don’t just jump on the wagon of assumption because assumption could paralyse your dreams. Wikipedia the online dictionary describes Analysis paralysis as a phrase that defines when the opportunity cost of decision analysis exceeds the benefits. It describes informal or nondeterministic situations when the sheer quantity of analysis overwhelms the decision-making process, preventing a decision. Analysis paralysis is to overanalyse and not taking action.
I did over analyse the use of Payload software years back to sell digital products on eBay, and by the time I will make up my mind, eBay came with a new policy that restricted the selling of downloadable goods on their website. I would have made enough profit if I did not overanalyse. Sometimes fear and uncertainty are the barriers. The purpose of gathering information is to enable you to see things clearer. In my case I did, but I was not confident to start. I was calculating the cost and not the potential profit.
Remember, by the time I wanted to trade; there was a new rule that stopped me. I was ready but too late. Casual analysis paralysis can occur in personnel decisions when overanalyses occur. The sheer volume of analysis overwhelms the decision maker, weighing him or her down so much he or she feels overwhelmed with the process and is unable to make a rational decision.
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Bible quotations are indicated from their respective translation. This is a publication of Sure Foundation Transcend Ministries, registered in the UK.
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