Question: Answer this post: In decision - making, perfect information means knowing everything about possible outcomes and their chances before deciding. But in real life, it's
Answer this post: In decisionmaking, perfect information means knowing everything about possible outcomes and their chances before deciding. But in real life, it's hard to get this kind of info. Especially in uncertain situations like investing or business strategy, things are too complex and always changing. Still, it's important to gather and analyze information as best as possible. Decisionmakers often deal with uncertainty and incomplete data. So even though perfect info isn't possible, analyzing data, doing market research, and getting expert opinions help make better decisions. For example, investors use techniques like studying companies and assessing risks to understand markets better. But trying to get perfect info can cost too much and take too long. For startups, where time and resources are tight, focusing too much on getting perfect info can slow down progress. So while perfect information is a good idea in theory, it's hard to achieve in practice. Instead, decisionmakers should focus on getting useful insights and making the best choices they can with the information they have. By doing this, businesses can adapt to change and increase their chances of success.When solving decision problems where multiple conflicting criteria are to be considered simultaneously, decision makers must compare several different alternatives and select the most preferred one. Miettinen The alternatives to finding the perfect information is never going to be easy but you can use multiple different alternative ways to find the best answer possible. Apple the industry i chose in module one In my opinion, would benefit greatly from an advanced data analytics tool. This tool could gather and analyze lots of data from sources like customer feedback, market trends, social media, and sales numbers. By using this tool, Apple could learn important things about what customers want, how well their products are doing, and new opportunities in the market. This information could help Apple make better decisions, improve their products, and stay ahead of their competitors.
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