What is data-driven decision making?

Data-driven decision making refers to the practice of basing decisions on the analysis of data rather than on intuition or personal experience alone. This process involves collecting relevant data, analyzing it, and drawing insights that can inform strategic choices within a business setting. By leveraging data analytics, organizations can uncover patterns, trends, and correlations that may not be immediately obvious, leading to more informed and effective decision-making.

The emphasis on using data analytics is crucial because it incorporates statistical tools and methods to derive actionable insights that are based on objective evidence, ultimately improving outcomes and operational efficiency. This approach contrasts sharply with relying solely on intuition, which can be subjective and potentially lead to biased decisions.