Simple. The Fact & Reason (F&R) approach is about obtaining all relevant facts and figures, pertinent to a subject matter, and synthesizing the same using applicable analysis, deduction, and reasoning processes, so as to draw sensible, valid, and corroborated conclusions on the subject.
A straightforward example is say if it is postulated that Manchester United is the best football team in the world the following steps under the Fact & Reason approach would be used:
1. Subject breakdown (Break down the subject into its constituent components).
- What does the statement "best football team" mean?
- Over what time period will the subject matter be measured?
- How would one be able to a objectively compared teams from different countries, different competitions, etc?
2. Obtain relevant facts and figures (For relevant time period and team universe)
- Obtain teams' certified results;
- Obtain teams' disciplinary records;
- Obtain teams' competitive awards history;
- Obtain teams' financial history;
- Obtain teams' fan club activity and support details;
- So no and so forth.
3. Analysis, compare, and contrast facts and figures for all members of the team universe (Statistical, Econometric, Quantitative methods).
4. Deduction and conclusion drawing.
5. Testing of conclusions (Should have an element of independent review / opinion).
6. Issue conclusion / view / opinion.
As simple as that. Try it on any issue, starting with the simple day-to-day matters, get the hang of it and then begin applying the same to more difficult and challenging scenarios. I will be happy to review your trials or provide independent feedback on the same, if you please. Just post your F&R summary walk-throughs on this blog.
Good luck and have fun.
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