Thanks to the emergence of new technologies and the democratization of information, 2019 will be the year of better decision-making in our personal and professional lives alike.
In Jeff Bezos’ 20-year history of penning shareholder letters, he’s focused much of his word count discussing Amazon’s approach to decision-making with sage advice such as “Most decisions should be made with only 70 per cent of the information you need; if you wait for 90 per cent or more, you’re moving too slowly.”
To Bezos’ point, decision making isn’t easy. Companies left behind by digital transformation in 2018 (Toys R Us, David’s Bridal, and soon, Sears) fell victim to the pitfalls of human decision-making errors and internal bias that led them to their untimely downfalls.
Yet as advanced applied AI and analytics become an everyday reality, simplifying our decision-making complexity (and doing away with unconscious bias) is increasingly within reach — so much so that we believe our best decisions are yet to come.