MORE OFTEN THAN not we must make business decisions without all the data necessary to ensure the best decision is made. In these situations we must rely on the "best available data" - B.A.D. - and place more hope in the outcome than we might like. Best available data are not just data, but also collective personal experiences, often referred to as "tribal knowledge" of the decision-maker, decision-making team, or entire organization. When a decision must be made with only the best available data, we rely heavily on that tribal knowledge, which is continually updated via day-to-day experiences. But sometimes, when making decisions with the best available data, and all that goes with it, the decisions end up being just plain BAD!
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