This four step decision making loop is used to frame available information. The framed information is to be put into context and than enrich details from which its possible to take decision.

As a Side note, there is not seldom to see that OODA is used together with the PDCA loop, which take a more tactic view of the problem. In contrary, the OODA might be a more holistic view and can contain many instances of PDCA.

There is a lot of information about OODA on the net. For instance, https://www.artofmanliness.com/articles/ooda-loop/. It is not only a methodology for business etcetera. It is also fully possible to make use of in daily basis. And also set it as a part of mind set.

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