I know of a lot of business who act on instinct, experience and gut feel to make large decisions (without outside input) and I dont have a problem with that.
But to suggest spending copious amounts of money on research/consultants to justify your position - bad business 101 UNLESS it is necessary to get consultants/research to give opinion etc which you already know the outcome to give a better understanding to people who dont have a thorough understanding.
Consultants are frequently used in private equity world for the express purpose