What does "data-driven decision making" involve? 🔊
Data-driven decision making involves using data analytics and statistics to guide business strategies and operational choices. Instead of relying on intuition or anecdotes, organizations gather and analyze relevant data—such as market trends, customer feedback, and performance metrics—to inform their decisions. This approach enables businesses to make informed choices, identify opportunities for growth, and enhance overall performance. Data-driven decision making fosters accountability and transparency, allowing teams to evaluate the efficacy of their strategies and continuously optimize operations based on objective insights.
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