Not the OP, however Anecdotally, I've seen firms/teams who intrinsically lack data opine that they need data to make any decisions which are uncomfortable.
Data comes in a variety of forms - many of which are intrinsically expensive to acquire. It's ok to acknowledge that you don't have sufficient data, and won't be able to acquire sufficient data in a reasonable time/budget - and that you need to use judgement.
Data comes in a variety of forms - many of which are intrinsically expensive to acquire. It's ok to acknowledge that you don't have sufficient data, and won't be able to acquire sufficient data in a reasonable time/budget - and that you need to use judgement.