What makes information valuable to decision makers? What makes it useful?

Expert Solution

The information can be from different sources and the decision makers rely on the information obtained from reliable sources like company and market data. This information will help the decision makers in making business decisions that can take the company in the right direction. A small change made to the business strategy can take the company either ways. They end up making huge profits and also end up losing money. So making a decision based on the right information is very important. The right information will feed the decision makers with the right approach and how they need to proceed further. They can also visualize the future using the information and avoid the possible negative impacts on the business. What makes information useful is the fact that it is reliable. The best source for good decision-making is information. When the decision makers are not confident of what needs to be done then they will look for information that supports a hypothesis or something that is against the hypothesis. This approach makes the decision making a lot easier. So it very useful as a source for decision making.

keosha answered 6 months ago

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