Question

Gavina Gourmet Coffee uses data because it wants to avoid what the chapter refers to as __________, which keeps a decision-maker from making even reasonable estimates regarding an outcome.

a) Analysis Paralysis
b) Decision Fatigue
c) Information Overload
d) Outcome Uncertainty

Answer 1

Gavina Gourmet Coffee aims to avoid 'Outcome Uncertainty', a term used to describe the difficulty in making estimates about outcomes due to excessive information.

Step-by-step explanation:

Gavina Gourmet Coffee wants to avoid what the chapter refers to as Outcome Uncertainty, which prevents a decision-maker from making even reasonable estimates regarding an outcome. In the modern Information Age known for its Information Overload, decision-makers often struggle to process the massive amounts of data available, leading to challenges in making timely and accurate decisions. This concept is important in business and economics because having too much information can be just as hindering as having too little when it comes to making efficient decisions.