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ZENODO
Article . 2024
License: CC BY
Data sources: ZENODO
ZENODO
Article . 2024
License: CC BY
Data sources: Datacite
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Data-Driven Decision Making in Management: A Review

Authors: Thorat, Dr. S. G.; Ghadekar, Dr. L. A.; Sayeed, Prof. Aatif; Kalbande, Prof. S. R.;

Data-Driven Decision Making in Management: A Review

Abstract

Abstract: Data-driven decision-making (DDDM) is revolutionizing modern management by harnessing data to improve decision quality and operational efficiency. This paper explores the significance of DDDM, emphasizing its impact on forecasting accuracy, resource optimization, and actionable insights derived from complex data. Despite notable challenges—such as data quality, integration, and privacy—technological advancements, including machine learning, cloud computing, and IoT, are progressively addressing these issues. The future outlook for DDDM is highly promising, with continuous innovations expected to further embed advanced analytics into business practices. As organizations increasingly adopt data-driven strategies, they are likely to achieve enhanced innovation, competitive advantage, and agility, setting new standards in the data-centric digital landscape.

Keywords

Keywords: Data-driven decision-making, DDDM, management, forecasting accuracy, resource optimization, actionable insights

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    This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
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    popularity
    This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
    Average
    influence
    This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
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    impulse
    This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
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selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
0
Average
Average
Average
Green