DATA-DRIVEN DEVELOPMENT: HARNESSING THE POWER OF DATA-DRIVEN DECISION MAKING (DDDM)

This article helps managers increase their understanding of the data-driven decision-making process. The data-driven decision-making process gives them practical suggestions on how to make data-driven decisions making. In addition, the process model also encourages them to consider their intention with partners and the external environment during their data-driven decision-making process. Moreover, organizations cannot benefit from data-driven decision-making capability if they do not know the core components of this capability. According to the data-driven decision-making framework, managers should focus on building five types of capabilities to support their data-driven decision making. These capabilities include data governance capability, data analytics capability, insight exploitation capability, performance management capability and integration capability.

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