Data-Driven Decision Management

Data-Driven Decision Management (DDDM) is an approach to business governance valuing decisions that can be backed up with verifiable data. The data-driven approach is gaining popularity within the enterprise as the amount of available data increases in tandem with market pressures.

The data-driven approach is gaining popularity within the enterprise as the amount of available data increases in tandem with market pressures. Data-driven decision management is usually undertaken as a means of gaining a competitive advantage. A study from the MIT Center for Digital Business found that organizations driven most by data-based decision making had 4% higher productivity rates and 6% higher profits. The success of the data-driven approach is reliant upon the quality of the data gathered and the effectiveness of its analysis and interpretation.