Data-Driven Decision Making (DDDM) refers to the process of making decisions based on data analysis and interpretation rather than intuition or personal experience. This approach involves collecting relevant data from various sources, analyzing it to extract meaningful insights, and then using those insights to guide business strategies and operational practices. By leveraging quantitative and qualitative data, organizations can identify trends, forecast outcomes, and enhance overall performance. Key benefits of DDDM include improved accuracy in forecasting, increased efficiency in operations, and a more objective basis for decision-making. Ultimately, this method fosters a culture of continuous improvement and accountability, ensuring that decisions are aligned with measurable objectives.
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