In making business decisions, we start with a business problem or opportunity; we collect relevant data, identify alternatives and make a decision. We use BI to help us in every step of the way from data collection to data analysis and sometimes even in executing the decision. Our goal is to make an effective decision but more importantly, we want to make sure that a standard process is established. We then try to automate this process by establishing a model. (We want to depend on standard processes rather than counting on human judgment every time the same business decision is encountered). We want to use the model and the process so we are not affected by human biases and we take full advantage of the power of technology. We standardize the process and expect reliable and predictable results.
Figure: 1 Sample Decision-Making Path with Metrics
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