A decision$-$maker is said to have perfect information when they have knowledge of all the facts and outcomes when making business decisions. Although it would be extremely beneficial for a decision marker to have perfect information, perfection information is simply unattainable and unrealistic. For instance, for a decision$-$maker at H&M to have perfect information, they would have to have access to all data such as future fashion trends, current customer preference, and global market shifts, but this is obtainable because the reality is that the world of fashion retail is very fast$-$paced. They can predict customer demand to a limited extent based on what is trending on social media, but one can never be certain that what is trending today, would be trending tomorrow. Moreover, global market changes also occur rapidly based on economic policies such as tariffs, and it is hard to know when a policy will change, even with data analysis. Therefore, limitations like these convey that perfect information is unhelpful and unrealistic as a guiding principle in decision$-$making.$$

In the book $$An Introduction to Decision Theory,$$the author discusses different approaches that would offer practical ways to make strategic and rational decisions without the need for perfection information, since perfect information is unrealistic. Decision$-$makers utilize expected utility theory, Balyesian updating, decision rules, and value of information theory. Value of information theory includes EVPI $($Expected Value of Perfect Information$)$ and EVSI $($Expected Value of Sample Information, which help measure the value of gaining information before making a decision. Since $3$CIX focuses on digital transformation through AI and cloud technologies, I believe that EVPI can help the company make smarter strategic decisions by quantifying the value of eliminating uncertainty. This tool would help show if it$$s worth investing in research such as customer beta testing and market analysis before launching a new product. It is important to gather information that is cost$-$effective and focused on helping a tech$-$driven firm. $3$CIX would be more likely to make well$-$informed decisions if they manage risk and prioritize decisions.$$ do you agree why or why not?