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
Question
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
Solution
In data-driven decision-making, there are several steps involved in addition to sharing results with subject matter experts and gathering and analyzing data. These steps include:
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Identification of trends: This involves identifying patterns or trends in the data that can provide insights and help in making informed decisions. By analyzing the data, you can identify recurring patterns or changes over time that may be relevant to the decision-making process.
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Surveying customers about results, conclusions, and recommendations: It is important to gather feedback from customers or end-users regarding the results, conclusions, and recommendations derived from the data analysis. This feedback can provide valuable insights and help validate the findings.
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Drawing conclusions from your analysis: Once the data has been analyzed, it is important to draw conclusions based on the findings. This involves interpreting the data and making connections between different variables or factors to understand the implications and potential outcomes.
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Determining the stakeholders: In data-driven decision-making, it is crucial to identify and involve the relevant stakeholders who will be affected by or have a vested interest in the decision. This includes individuals or groups who may have valuable insights, expertise, or decision-making authority.
By following these steps, data-driven decision-making can be a comprehensive and effective process that incorporates various elements to ensure informed and evidence-based decision-making.
Similar Questions
Question 7You have just finished analyzing data for a marketing project. Before moving forward, you share your results with members of the marketing team to see if they might have additional insights into the business problem. What process does this support? 1 pointData scienceData analyticsData-driven decision-makingData management
Which of the following activities are elements of data-driven decision-making? Select all that apply.1 pointAsk subject-matter experts to review the resultsFigure out the business need or problem to be solvedRemove data insights that stem from human intuitionFind and analyze relevant data
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 7As a data analyst, you finish analyzing the latest marketing data. If you are following the data-driven decision making process, what should you do next?
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.
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