Wednesday, November 8, 2017

How good are your decision making abilities

Just how much information do our brains have to deal with? In 2015, about 2.5 quintillion bytes of information were created daily, and that is only growing.

In order to handle this enormous amount of information, our brains have created some clever faster ways that make it easier to know what to disregard and exactly what to focus on.

But the techniques used to do this sifting is often flawed. These methods are called Cognitive Biases. There are approximately 175 various cognitive biases that have been cataloged. Undoubtedly, everyone does not utilize ALL of these cognitive methods when they are deciding, however all of us use some combination of them.

Here are just a small seclection of the most typical cognitive biases:

1. Anchoring Bias - this is the propensity to rely too much on one piece of data, which is usually the very first one provided. Later on, in some cases better, info is reduced in importance or completely disregarded.

2. Attentional Bias - what we consider the majority of impacts our perception. This often triggers us to be uninformed of changes in our environment.

3. Confirmation Bias - look for, focus on, and keep in mind just the info that supports exactly what one already believes.

4. Information Bias - Keep seeking additional info, even when no more data is necessary. A few of us hesitate that we may be missing out on something important. This can be particularly so around health issues.

5. Recency Bias - Sort of the opposite of Anchoring Bias, it is giving more weight to the most recent information obtained.

Find out more about these thinking strategies at BrainSpeak.com!

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