What does "data-driven decision-making" involve in business strategies? 🔊
“Data-driven decision-making” involves using data analysis to guide business strategies and decisions instead of relying on intuition or personal experience. This process includes gathering relevant data, analyzing insights, and interpreting results to make informed choices. By integrating quantitative metrics and qualitative insights, organizations can enhance their operational efficiency, identify market opportunities, and mitigate risks. Adopting data-driven practices supports continuous improvement and promotes growth.
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