Thank you for visiting Based on this which is TRUE about data driven business decisions Choose only ONE best answer A They rely on intuition more than on collected. This page is designed to guide you through key points and clear explanations related to the topic at hand. We aim to make your learning experience smooth, insightful, and informative. Dive in and discover the answers you're looking for!
Answer :
Final answer:
The best answer regarding data-driven business decisions is that they utilize data capture and meaningful reporting, emphasizing the importance of data analysis in decision-making. Other options inaccurately depict the reliance on intuition and the roles of external versus internal data. Ultimately, making informed choices is essential for successful business strategies.
Explanation:
Understanding Data-Driven Business Decisions
Data-driven business decisions refer to choices made based on the analysis and interpretation of data rather than relying on intuition or gut feelings. This approach is critical for effective decision-making in today's data-rich environment.
Among the options provided, the statement that is TRUE is:
- They utilize data capture and meaningful reporting.
Data-driven decisions leverage methods of data capture to gather relevant information, which is then analyzed to bring insights that inform business strategies. For instance, a company might use analytics tools to track customer behavior and preferences, allowing them to tailor their marketing efforts effectively.
In contrast, the other options are inaccurate:
- A suggests reliance on intuition, which is contrary to data-driven practices.
- C implies that decisions are solely based on external data, ignoring internal data which is vital.
- D states that data correlation and analysis are unnecessary, which is not true as they are fundamental to the process.
Learn more about data-driven decisions here:
https://brainly.com/question/51353117
Thank you for reading the article Based on this which is TRUE about data driven business decisions Choose only ONE best answer A They rely on intuition more than on collected. We hope the information provided is useful and helps you understand this topic better. Feel free to explore more helpful content on our website!
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