COST ACCOUNTING
INFORMATION FOR DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Analytics
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Culture
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Technology
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Transformation
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Detailed explanation-1: -Digging deep into the numbers can reveal important trends across departments or the enterprise. You may find that productivity lulls have reasons behind them. It could also provide insights on onboarding and if it’s effective enough to enable new staff to work at a high level.
Detailed explanation-2: -Data-driven decision-making (DDDM) is defined as using facts, metrics, and data to guide strategic business decisions that align with your goals, objectives, and initiatives.
Detailed explanation-3: -But what is data-driven culture? Simply put, it is when data is used to make decisions at every level of the organization. A data-driven culture is about replacing the gut feeling to make decisions with facts and assumptions.