Usually, managers ask this question to understand what your problem-solving method is. They’re looking for you to explain a systematic method of problem-solving that involves collecting information, evaluating the information, and making decisions based on what you find.
If I'm faced with a problem, I usually start by studying or looking at examples of how others have solved this problem. After doing this research, I will then determine which approach to solving the problem will work best for the company and me. Then, I decide what steps to take to solve the problem, and I start setting the process in motion while interacting with my managers and co-workers. I’ve discovered that this usually works, and I have been able to solve different problems in my workplace with this method.
This question allows the employer to better understand the method you use to solve a problem, they also want to evaluate how you make an intelligent decision based on the information and details that you have gathered.
If I have a list of advantages and disadvantages to help me make a decision, I start by considering whether the drawbacks would prevent me from achieving my desired result or trigger undue pressure somewhere else. If so, then it is likely the approach will not be successful. If not, I will evaluate if the advantages outweigh the disadvantages in terms of a good outcome. When the pros outweigh the cons, then any adverse consequences are worth enduring and dealing with as they come.
This is a question you might face when you interview for a job that requires you to evaluate statistics and analytics for decision making. To avoid losing concentration, pick two or three metrics you routinely use and consider how these metrics influence your decisions.
As an email marketing consultant, I often use open rates and conversion rates to assess my campaign success. If open email rates are small, I will review the material and make sure it is relevant and meaningful to the reader, or seek to change the subject heading to make it more interesting. If conversion levels are small, I'll look at the email copy again to make sure it's clear and convincing, and review the offer to make sure it's important and valuable to the target audience.