Data Analysis Decision Making

Data Analysis Decision Making

Home  ::  Decision Making  ::  Happiness  ::  Self Esteem  ::  Stress And Anxiety  ::  Mental Health
Case Study On Group Decision Making
Decision Making Process Grid
How To Use Strategic Management In Decision Making
Is Decision Analysis Beneficial For Use In The Real World
Managerial Role And Decision Making
Tips For Collaborative Decision Making
What Are Some Decision Making Techniques
Why Do System Concept Important For Managerial Decision Making
Act Utilitarianism Equal Right To Happiness
Blessing Vs Happiness
Ego Impairment Refractory Depression
Social Aspect Of The Movie And The Pursuit Of Happiness
What Are The Different Forms Of Depression
Mental Health
Elderly Mental Health Best Practices
Free Treatment Plan Mental Health
Mental Health Disorder And Tobacco Use
Mental Health Issues For Military Families
Mental Health Stigma Reduction Best Practices
What Rules Does Florida Have For Mental Health Counselors
Self Esteem
Build Self Esteem With Hypnosis
Childhood Neglect Trauma And Adult Self Esteem
Self Esteem Free Lessons
Self Esteem Student Activities
Self Help Book Anger Managment
Things To Enhance Personal Growth
Stress And Anxiety
Children With Secondary Posttraumatic Stress Disorder
Crises Intervention Stress Management
Ethical Issues Inherent With Workplace Stress
Hobbies Relieve Stress
Reduce Stress Through Self Hypnosis

Data Analysis Decision Making


With the aggrandizement in technological progress and increasing trade volumes, data analysis in making decision has come to be of utmost importance. Gone are the days when traders used to sit back at the end of the day to glimpse through the details acquired to have an idea of instrument pricing. Today, with loads of information filling up the laptops and hard disks, entrepreneurs are taking recourse to various technologies and statistical tools for data analysis and decision making.

What is the relation between data analysis and decision making from a business perspective? Data analysis refers to the procedure of going into the depths of and analyzing information, thus drawing inferences from the available facts. This aids in decision making as we are considering the various facets, the pros and cons by analyzing the useful information, taking a statistical survey of the whole aspect. There are two types of Data analysis namely, Exploratory and Qualitative. The former helps in forming decisions by statistical study and hypotheses, while the latter banks on non-numerical data such as observations and photographs.

As decision making forms a crucial part of today’s ever expanding business strategies, research has discovered powerful tools for analyzing information in its exact details which helps in a great way to formulate critical decisions in every field. Microsoft Excel forms one such innovative tool for data analysis presented in graphical and tabular form. Statistical calculations namely, Median, Mode, Variance, Covariance, Standard Deviation etc are encompassed in such formulations and decision making.

Another tool which has gained prominence in this arena is the TimeScape, a landmark creation in analyzing statistics in its gigantic form and a valuable resource to decision taking. Risk management, being another crucial aspect in modern day's gargantuan business strategies, risk measurement techniques like historical stimulation VaR and Monte Carlo, too are coming to the fore and helping in handling information in huge quantities.

More Articles :

Data Analysis Decision Making

Decision-Making-And-Emotional-Intelligence      Emotional intelligence is an extremely important factor in decision making. Emotional intelligence deals with the ability to be aware of one's own emotions and recognize others as well. You should also be able to anticipate the impact of such an element on decision making. One must possess the quality of recognizing others and one’s own emotional capacities to be able to become a good leader. More..