THE ROLE OF DATA IN MANAGERIAL DECISION-MAKING: ENHANCING ACCURACY, EFFICIENCY, AND STRATEGIC INSIGHT

Authors

  • Dr. Zainab Shah Senior Researcher, Institute of Business Administration (IBA) Karachi, Pakistan

DOI:

https://doi.org/10.66238/smsrj.v2i2.17

Keywords:

Data-driven decision-making, managerial decisions, business analytics, big data, artificial intelligence, decision frameworks, operational data, financial data, market data, strategic decision-making, risk management, resource allocation, data privacy, ethics in data use, data quality, performance metrics, predictive analytics, decision support systems, data integration, organizational intelligence

Abstract

In today’s data-driven business environment, the role of data in managerial decision-making has become increasingly vital for achieving organizational success. This article explores the critical role that data plays in the decision-making process of managers, particularly in enhancing accuracy, efficiency, and strategic insight. By integrating quantitative and qualitative data into decision-making frameworks, managers can make informed choices that mitigate risks, identify opportunities, and optimize resource allocation. The paper also examines the various types of data available to managers, such as operational, financial, and market data, and discusses how big data, business analytics, and artificial intelligence are transforming traditional decision-making processes. Additionally, the article highlights the challenges and ethical considerations surrounding the use of data in decision-making, offering practical recommendations for leveraging data effectively while maintaining organizational integrity.

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Published

2025-10-24

Issue

Vol. 2 No. 2 (2024)

Section

Articles

License

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