What are some strategies for evaluating information quality in decision-making?

In tapestry of decision-making, thread of truth begins with source scrutiny—an artful dance of authentication and discernment. In decision-making, source identification orchestrates reliability. Strategies include authentication through credibility checks, assessing expertise behind the information and cross-referencing data from reputable sources. Timeliness scrutiny guards against obsolescence, while recognizing biases ensures a balanced narrative. Adherence to data governance standards, consideration of audience needs & corroboration techniques further enhance the integrity of decision-making foundation. A continuous feedback loop & technological tools complement these strategies, shaping a dynamic approach to info quality assessment.

Walt Whitman - 'Do I contradict myself? Very well then I contradict myself,(I am large, I contain multitudes.)'. The plethora of information available makes the validation of source a key requirement. Unless a source clearly states the purpose then although potentially an interesting read it is likely only that, so seek a source(s) with a purpose that meets your evidential needs.

We need to start by considering the decision in the context of the problem or situation it is intended to address. We need to determine whether the stated problem is a real issue or just a symptom of something deeper. So in short before making a decision you need to fully understand the situation and the source of information to make the decision.

To determine the quality of information in decision making, you should start to determine the credibility of the sources providing the information and its accuracy then evaluate the objectivety if there is potential of conflict of Interest. After that, consider if this information is relevant and applicable to the decision in hand and look for the consistency across different sources to find out the clear information. Finally determine if the information is comprehensive and includes all necessary details for informed decision making.

To me, the source where the information comes from shouldn't be a thing because definitely the information cannot come from any other source other than your team (team member), a team member must have been part of a process to have any information before he/she communicates it, hence, such information can only be evaluated to get evidence of whether to accept it or not.

A 'n' of one is not a trend and is a unique occurrence. A decision based on a 'n' of one is reactive and in the moment. Two or more occurrences of an event become a trend-able and therefore there is a reason to investigate the underlying causes of the trend generation to create a decision-based solution. If possible evidence the trend through a statistical analysis (ideally outputting an impact rating). “What can be asserted without evidence can also be dismissed without evidence.” ― Christopher Hitchens,

The perspective of gathering evidence must be focused on the 'what'. What is trying to be decided? Having empirical evidence of occurrence, severity and impact tailors the perspective and allows for focus. Aim for simplification of the question / problem. The problem - "when you cast your net that wide - is you inevitably catch something you don't want to catch". - Edward Felten

Most commonly used tools are : 1. SWOT analysis (Strength, Weakness, Opportunity, Treat) 2. Trend Analysis 3. Cost Benefit Analysis (CBA) 4. Decision tree

For evaluating information quality in decision-making, consider employing a multifaceted approach. First, triangulate data by cross-verifying with multiple reputable sources. Use analytical tools for data mining to uncover hidden patterns and insights. Additionally, incorporating a systematic review process that includes peer consultation can provide a broader perspective. It's also beneficial to apply predictive modeling to assess the future impact of decisions based on current data. Lastly, ensuring a feedback loop from the outcomes of decisions to refine criteria and methods is essential. This holistic approach ensures a robust framework for high-quality decision-making.