Surveying customers about their preferences and using that information to inform business strategy is an example of data-driven decision-making.1 pointTrueFalse

Which of the following examples demonstrate data-driven decision-making? Select all that apply.1 pointA grocery store polls customers about their brand preferences, then uses the survey results to determine which items to stock.A manufacturing company uses documented information about production processes to improve efficiency.A hospital uses statistics in health records to identify patients who may be at risk for certain diseases.A financial institution asks bank tellers for their personal impressions about customers.

Fill in the blank: _______ are an important part of data-driven decision-making because they are people familiar with the business problem and can offer insight into the results of data analysis.

Question 5Sharing your results with subject matter experts and gathering and analyzing data are carried out in data driven-decision-making. What else is included in this process?1 pointIdentification of trendsSurveying customers about results, conclusions, and recommendationsDrawing conclusions from your analysis. Determining the stakeholders

Which of the following describes the process of turning data points into useful information?answerMarket analysisData analyticsData-driven business decisionsRaw data collection

When building data into business strategy, why is it important to include insights from subject-matter experts? Select all that apply.1 pointTheir experience and human intuition are valuable to data-driven decision-making.They can review analysis results and help identify inconsistencies.They are responsible for finding and analyzing data to uncover trends, patterns, and relationships. They are familiar with the business problem.