We make decisions all the time. Often our decision making is with little more than a gut feeling.
When faced with a major decision we often look data to help us decide. Is the product reliable enough as designed? Which field returns indicate we should stop production?
Some decision may help us earn or lose thousands if not millions of dollars.
Deciding to delay a product launch by six months means we have no revenue for the duration. The delay may also permit us to address a design flaw that would cause half the products to fail within a few months.
The later may cause loss of market share, erosion of brand loyalty, not to mention the cost of warranty claims. [Read more…]