data-driven-decision-making

Vocabulary Word

Definition

Data-driven decision-making is when choices are based on actual data or evidence rather than gut feelings or estimations. For instance, using market survey data to launch a new product.

Examples in Different Contexts

In marketing optimization, 'data-driven decision-making' involves using data analytics to guide marketing strategies and tactics. A marketing director might explain, 'By embracing data-driven decision-making, we've been able to significantly improve our campaign performances and ROI through targeted advertising and customer segmentation.'

Practice Scenarios

Public-Policy

Scenario:

Despite our efforts, pollution levels in the city are still high. We need a more effective strategy, perhaps targeting specific pollution sources.

Response:

The use of data-driven decision-making could help us identify and tackle the primary sources of pollution.

Tech

Scenario:

The new application is not performing well. We need to analyze user interface data to understand the bottlenecks.

Response:

Data-driven decision-making can help identify the issues and optimize the application performance.