Social media platforms and information technology have revolutionized the way individuals obtain, use, and share information in the digital age. This has affected people's decision-making processes in a variety of fields. This thorough analysis investigates the complex effects of information technology and social media on the way the public makes decisions. The impact of social media and information technology on decision-making in domains like politics, healthcare, education, consumer behavior, and interpersonal relationships is examined in this review, which draws on an extensive array of scholarly literature, empirical investigations, and theoretical frameworks. According to the research, information technology and social media can influence decisions in both favorable and unfavorable ways. On the one hand, these platforms give users access to a multitude of information, empowering them to take part in social movements, activism, and civic engagement with greater knowledge and understanding. Social media platforms also enable peer-to-peer communication, cooperation, and knowledge sharing, giving people the confidence to ask their social networks for guidance, affirmation, and support. In the digital age, the review emphasizes how psychological variables, cognitive biases, and sociocultural influences shape decision-making processes. In online environments, people's information processing, judgment-making, and decision-making processes are greatly influenced by social comparison, confirmation bias, FOMO, and social validation, among other factors. This thorough analysis advances our knowledge of the intricate interactions among decision-making, information technology, and social media. Informed decision making, digital literacy, and the moral application of social media and information technology in society are all goals of this review, which synthesizes the literature and highlights new trends to guide future research, legislative efforts, and hands-on interventions.