Decision-Making & Data Science: How Large Businesses Can Use Analytics to Shape Decisions

Abstract

Although big data will bring worth for business throughout the entire worth chain, the integration of details analytics about the decision-making procedure is nevertheless a battle. This specific study, based on an ordered literature review, thematic evaluation and qualitative interview findings, proposes 6 steps to create every relevance and rigor in the technique of analytics driven choice generating. Our findings illuminate the main key phases in this specific option procedure, for example matter characterization, evaluation of earlier outcomes, model development, data collection, information analysis, along with techniques on insights within the context of program strategies. Although outcomes are assessed in a sequence of steps, the analysis identifies them interdependent and iterative as. The suggested 6 phase analytics driven choice making process, pragmatic evidence from service techniques, and later scientific studies agenda, source the groundwork for upcoming scholarly research, and can work as a step smart guidebook for internet business professionals.

Keywords

• decision-making
• analytics
• firm performance
• business decisions