ECONOMICS

Detailed explanation-1: -Using data in decision making involves nothing more than adding, subtracting, multiplying, and dividing. All a manager needs to answer a question or solve a problem is data. The preferred way of summarizing and communicating numerical information is with tables, charts, and graphs.

Detailed explanation-2: -One benefit big data and business analytics can help improve decision making is by identifying patterns. Identifying problems and providing data to back up the solution is beneficial as you can track whether the solution is solving the problem, improving the situation or has an insignificant effect.

Detailed explanation-3: -Data based decision making provides businesses with the capabilities to generate real time insights and predictions to optimize their performance. Through this, they can test the success of different strategies and make informed business decisions for sustainable growth.

Detailed explanation-4: -What do subject-matter experts do to support data-driven decision-making? Select all that apply. Subject-matter experts can offer insights into the business problem, identify inconsistencies in the analysis, and validate the choices being made. A data analyst finishes analyzing data for a marketing project.