Ch 11.7

Question 1

What is Evidence-Based Management?

Answer 1

Making decisions based on the best available evidence from various sources (scientific research, company data, expert opinions).

Question 2

What is crowdsourcing in decision-making?

Answer 2

Outsourcing part of the decision process to a large group of people, often outside the organization, to develop or choose solutions.

Question 3

What is analytics in decision-making?

Answer 3

Using data analysis and statistics to uncover patterns and make decisions, often in real time.

Question 4

What is big data?

Answer 4

Large, often unstructured data collected in real-time from various sources (e.g., social media, sensors) to inform decisions.