3

Decisions, Decisions

“The chief source of problems is solutions.”

—Eric Sevareid’s Law: CBS News, December 29, 1970

“Knowing a great deal is not the same as being smart; intelligence is not information alone but also judgment, the manner in which information is collected and used.”

—Carl Sagan

This chapter discusses how corporations use data analysis in their strategic and tactical decision making. We cover the interplay between analytics and industry knowledge, deep-dive into one approach for making analytics-based decisions, and conclude with a discussion of common decision-making impairments.

Analytics supports decision making by supplying ...

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