Overall success is every bit as much about executing on successful methodologies as it is avoiding those that are unsuccessful. Emphasis often on the latter.
Obtaining insight into the likelihood of success or failure through analytics is a far more cost-effective way of doing business compared to trial-by-fire.
The cost of an uninformed methodology can rapidly exceed what it would have cost to obtain good insight.
Knowing The Difference.
Even in the face of changing information, a robust understanding of underlying attributes promotes sound decision making. Knowledge at the outset of both the associated upside and more importantly, downside, anchors decisions to facts as opposed to feelings.
Assessing situations in this manner helps shed meaningful light on whether circumstances indicate it might be time to shift course or whether it’s just choppy waters and to weather the storm.
Knowing the difference is often the only difference that matters.