How much information is considered too much information when it comes to business decisions?

There are people who believe they already know enough to handle just about any situation and they have come to rely on their gut instincts. These people are sometimes admired for this ability, but have wedone enough measuring to see if those gut choices are great decisions or merely good ones. And isn't “gut instincts” just another term for being lucky?

Baseball managers sometimes “throw out the book” when they make difficult choices that aren't supported by the game's conventional wisdom, although going by the book often means relying on old measurements that are often based on incomplete data.

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