Wiktionary
n. The condition of being unable to make a decision due to the availability of too much information which must be processed in order for the decision to be made.
Wikipedia
Analysis paralysis or paralysis by analysis is the state of over- analyzing (or over-thinking) a situation so that a decision or action is never taken, in effect paralyzing the outcome. A decision can be treated as over-complicated, with too many detailed options, so that a choice is never made, rather than try something and change if a major problem arises. A person might be seeking the optimal or " perfect" solution upfront, and fear making any decision which could lead to erroneous results, while on the way to a better solution.
The phrase describes a situation in which the opportunity cost of decision analysis exceeds the benefits that could be gained by enacting some decision, or an informal or non- deterministic situation where the sheer quantity of analysis overwhelms the decision-making process itself, thus preventing a decision. The phrase applies to any situation where analysis may be applied to help make a decision and may be a dysfunctional element of organizational behavior. This is often phrased as paralysis by analysis, in contrast to extinct by instinct (making a fatal decision based on hasty judgment or a gut-reaction).