There are two equally important factors that determine the quality of a decision. The first one is wit. the other one is wisdom.
By wit, I would like to point out the alertness of the mind and the amount of attention that one is paying to the present moment.
By wisdom, I mean the total knowledge relating to the subject of the decision that the mind has and remembers at the present moment.
Both these factors are equally important. Only a person who is both knowledgeable and alert at the same time can be entrusted to regularly take good decisions.