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Question 5What is the process of using facts to guide business strategy?1 pointData visualizationData-driven decision-makingData programmingData ethics

Question

Question 5What is the process of using facts to guide business strategy?1 pointData visualizationData-driven decision-makingData programmingData ethics

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Solution

The process of using facts to guide business strategy is called Data-driven decision-making. This involves collecting data from various sources, analyzing it to find trends or patterns, and then making decisions based on that analysis. This can help businesses to make more informed decisions that are likely to lead to better outcomes.

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A company is receiving negative comments on social media about their products. To solve this problem, a data analyst uses each of their five analytical skills: curiosity, understanding context, having a technical mindset, data design, and data strategy. This makes it possible for the analyst to use facts to guide business strategy and figure out how to improve customer satisfaction. What is this an example of?1 pointData-driven decision-makingData science Gap analysis Data visualization

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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.

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