What is error on the side of caution?

Error on the side of caution refers to the act of being overly cautious in making a decision or taking an action, even if it means sacrificing potential benefits or opportunities. It is a common approach in situations where there is a high degree of uncertainty, risk, or potential harm. For example, a doctor may prescribe a lower dosage of medication to a patient to avoid the risk of adverse side effects, even if it means the medication may be less effective. In business, managers may opt for conservative financial projections or hold off on investing in a new venture until more information is available. This approach acknowledges the potential consequences of making a wrong decision and prioritizes safety and risk management over potential gains.