Confirmation Bias

Confirmation Bias is a cognitive bias where individuals favor information that confirms their pre-existing beliefs and ignore contradicting evidence.
Confirmation Bias greatly affects our decision-making processes. For example, say a person believes that cats are unfriendly. Even if they encounter several friendly cats, they may only notice and remember the ones that were aloof or scratchy, reinforcing their initial belief. Stakeholders in business often fall for Confirmation Bias when they only pay attention to data or reports that support their prevailing line of thought while ignoring contradictory evidence.
We are more often frightened than hurt; and we suffer more from imagination than from reality. - Seneca

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