How do you make a decision in your business? Here's my simple framework

After over 10 years of launching various products, I have developed my own decision-making framework. However, I would also like to share some links to well-known approaches in this area.

Whenever I need to make a decision, I try to consider three sources of knowledge about the subject:

First, data. This includes all the information we can gather: numerical facts, statistical data, rates, spreadsheets, graphs, and so on. In short, it encompasses everything we refer to as "numbers don't lie."

Second, insights and opinions from people. This involves all the conversations and discussions we have. For example, when it comes to our services, we consider user interviews, discussions with stakeholders, and more.

Third, my personal experience. This is the most abstract part, and it led me to start a new business called storist.me which enhance this skill. Nevertheless, it is a crucial aspect, and the availability of expertise and experience often plays a significant role.

To reiterate, every time I need to make a decision, I follow these three steps: First, consider data; second, gather insights and opinions from people; third, draw upon my personal experience. Additionally, I sometimes use the RICE method to evaluate each step.

How do you make decisions? Please share in the comments.

PS. Here are a few very short articles about decision making:
– The best solution can be calculated! Decision Matrices will help you consider all important factors: https://media.storist.me/decision-matrices-will-help-you-consider-all-important-factors/
– Use the “Six Thinking Hats” technique in order to make the best decisions!
https://media.storist.me/use-the-six-thinking-hats-technique-in-order-to-make-the-best-decisions/