Business decision-making is a step by, step process that allows professionals to resolve issues through the evaluation of evidence and considerations, and also deciding on a route. The process can also provide an opportunity at the conclusion, to evaluate whether the choice was the correct one.

7 steps to make an informed decision

Although there are many variations to the decision-making process, the most commonly used steps by professionals are these seven.

Identify the decision

Before you make your decision, determine the issue or question you are trying to solve. Clearly define your decision. If you misidentify the problem to address or the problem you've picked isn't sufficiently broad, you'll knock the decision train off the tracks before it has even left the station. The decision you make should be dependent upon coin flip.

If you have to reach a specific goal from your decision, make it measurable and timely to ensure that you have achieved your goal at the end of the process.

Collect relevant information

Once you've decided, gather all the relevant details. Perform an internal evaluation to determine the areas where your business has performed well and failed in areas related to your choice. You can also seek out information from external sources, such as market research and , sometimes, assessments from paid consultants.

Think about the implications

It is important not to overload yourself with too much information. Statistics and facts that may seem relevant to your situation could only make things more difficult.

Identify the alternatives

You have all the data you require to find options. There is usually more than one option to consider when trying to achieve a goal. For instance in the case of a company trying to gain more engagement through social media, the options could include paid social advertisements or a change to the strategy for your social media on an organic basis or a mix of the two.

Weigh the evidence

When you've identified several options, consider the evidence in favor or against the alternatives. Examine what other businesses have done in the past to succeed in these fields, and take an in-depth look at your own organization's wins and losses. Be aware of the possible pitfalls of each approach and weigh them against the potential benefits.

You have many options

This is the moment that you, the individual is the one who makes the final decision. You have probably identified and clarified the decision you need to make, collected all relevant details and analyzed and formulated the possible routes. You're ready to make a decision.

Get involved

Once you've made your decision, act on it! Make a plan to make your decision concrete and achievable. Create a plan of action in line with your decision and then let your team loose on their tasks when the plan is in place. You are able to coin toss to assist to make a decision.

Review your choice

Examine your decision after a time period that you have decided to set, and which was clearly established in the initial step of the decision-making process. Did you solve the problem? Did you respond to the question? Did you meet your goals?

If so, take note of what worked to be able to refer back later. If not, take note of your mistakes as you begin the decision-making process again.