We naturally gravitate toward information that is easy to collect, inside our comfort zone or that confirms our biases and preferences. This consumes time and attention but does little to advance the quality of the decision.
The most interesting decisions have uncertainties and risks that no amount of fact-gathering will resolve.
Uncertainty simply means the things we do not know or cannot know.
We call “bad” uncertainties “risks”.
We call “good” uncertainties “upside”.
To make quality decisions, you must systematically incorporate uncertainties into your decision-making process. You must figure out how to confidently allocate your resources in the face of irresolvable uncertainty.