Data-Driven Decision Making: Leveraging Analytics and AI for Strategic Advantage

Abstract

In today's information-rich landscape, organizations are increasingly turning to data-driven decision making (DDDM) to gain a competitive edge. This paper explores the concept of DDDM, delving into the crucial roles of analytics and artificial intelligence (AI) in its execution. We discuss the benefits of DDDM, including improved operational efficiency, enhanced customer understanding, and informed strategic planning. Furthermore, we examine the challenges associated with implementing DDDM, such as data quality concerns, talent acquisition, and ethical considerations. Finally, we provide practical recommendations for organizations aspiring to leverage DDDM for strategic advantage.