How do you reduce the uncertainty in decision-making? No problem, says Douglas Hubbard, there's nothing that can't be measured.
Big decisions in business can be fraught with risk and uncertainty. You can quantify in a business plan all the tangible items, but how do you measure the intangibles? Or do you simply rely on intuition and previous experience? There's a better way, says Douglas Hubbard, of US-based Hubbard Decision Research. He's developed a system that uses a combination of business know-how, training and statistical theory to determine the value of the information that's available to you, and its likely effect on the decision you're making. By narrowing the range of probabilties as far as possible, you'll be able to reduce the uncertainty involved.Log InSubscribe