What does the term "data-driven decision-making" mean? 🔊
The term "data-driven decision-making" refers to the process where decisions are made based on data analysis and interpretation, rather than intuition or personal experience. Organizations utilize quantitative and qualitative data collected from various sources to identify trends, evaluate outcomes, and make informed strategic choices. This approach fosters a culture of accountability, as decisions are supported by factual evidence. By leveraging data analytics tools and technologies, companies can improve operational efficiency, enhance customer satisfaction, and drive overall business performance. As a result, data-driven decision-making has become integral to modern business practices.
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