What is Data-driven Decision-Making?
Data-driven decision-making (DDDM) is defined as using facts, metrics, and data to guide strategic business decisions that align with your goals, objectives, and initiatives. When organizations realize the full value of their data, that means everyone - whether you’re a business analyst, sales manager, or front line employee - is empowered to make better decisions with data, every day. By relying on data rather than gut feelings to guide the actions of your company, decision-makers are able to move forward with fewer mistakes and better meet the needs of your customers.
In pursuit to be data-driven, many enterprises are developing three core capabilities: data proficiency, analytics agility, and community. Transforming how a company makes decisions is no easy task, but incorporating data and analytics into decision-making cycles is how you will see the most transformative impact on your organization.