Data-informed decision-making process
What does being data literate enable you to do? What is the outcome? The outcome is gaining insights from your data so that you can make decisions and take action. This is what a data-informed organization does. It is able to obtain insights and knowledge from its data to enable effective data-informed decisions.
As defined in Kevin Hanegan’s book Turning Data into Wisdom, data-informed decision-making is “the ability to transform information into actionable and verified knowledge to ultimately make business decisions.”
A data-informed organization is an organization that systemically and systematically utilizes data and analytics to make the best possible decisions across all levels within the organization.
There are various processes and models out there that can be followed for data-informed decision-making. The one covered in this book is an evolution from the seven-phase process introduced in the book Turning...
