Well Informed Decision Making

D1 - Unit 4 – Evaluating the appropriateness of business information used to make strategic decisions.

Informed decision-making is an important aspect for working in the government. According to Milakovich and Gordon, provide some examples of how information technology can be used to assist bureaucrats in decision-making?

Most decisions are made with analysis, but some are judgment calls not susceptible to analysis due to time or information constraints. Please write about a judgment call you’ve made recently that couldn’t be analyzed. It can be a big or small one, but should focus on a business issue. What was the situation, the alternatives you considered and evaluated, and your decision making process? Be sure to explain why you chose the alternative you did relative to others considered.

Informed decision-making is an important aspect for working in the government. According to Milakovich and Gordon, provide some examples of how information technology can be used to assist bureaucrats in decision-making?

In this task I will be evaluating the appropriateness of business information used to make a strategic decision. In this part of the task I will be focusing on Tesco business. I will be talking about the importance in strategic decisions within Tesco and how they use the decisions for their business. Also I will be evaluating how the strategic decisions affect the financial performance of Tesco.

* Sample: The sample is limited to a small proportion of working professionals in Western Sydney and may not accurately reflect the population of working professionals.

The Wise Choice Process is a fun brainstorming tool, I learned to really take the time to think about the process of decision making. The difference of seeing my choices written in front of me and then to evaluate the possible outcomes is a noticeable change. I usually brainstorm but just by thinking about it, I can get a lot more

Strategic decisions require careful and purposeful skills of analysis, creativity, and informed problem solving. The best practice for decision making is identification, inventory, and intervention (Davenport, 2009). Identify the decision to be made for the organization, identify the factors that influence that decision (who, what, etc), and apply purposeful action to implement that decision. Decision-making tools can assist with the decision making process. Tools such as, Case-Based Decision Analysis, Information Aggregation Tools, cost-benefit analysis, gap analysis, or SWOT analysis. can help to evaluate the current state of the company and how to proceed with a decision for the future. Case-Based Decision Analysis tool focuses on data collection of past experiences, situations, and solutions. By tracking past results it can help to make more informed decisions in the future. Information Aggregation Tools uses external data that relates to a specific issue at hand, evaluates data that has served as solutions to such issues, selects supported alternatives, and, lastly, rates the compatibility of such proposed solutions to the issue at hand. A cost-benefit analysis is a type of strategic decision-making tool that assesses the cost and potential benefit associated with different courses of action and choosing

In my workplace, I often deal with situations were different factors can be considered and every situation is different depending on the customer. I work for a non-profit agency that provides services to customers who are considered unemployed or underemployed. As with any business, each customer has their own separate needs that they come to us for, and what we provide one customer we might not be able to do for another. Each decision that I make requires me to assemble information from two database systems along with what is provided to by the customer and their employment specialist. I assemble all information necessary along with our related policies to make the most informed decision I can. In many situations, when I make a decision

In the past, leaders often relied on their intuition and pursued a hypothesis driven approach to strategic decision making. Field of data science has entirely shifted this paradigm. The advent of machine learning and pattern recognition techniques, in conjunction with the growth of cloud storage and parallelized computational capabilities has given business leaders enormous flexibility to boil the ocean and make decisions entirely based on data.

Since I finished, principle of evidence based pharmacy practice class in my first year of pharmacy school, I was curious to know what are the areas where we needs to use evidence based decision-making. I started learning more and more about evidence based practice for standard treatment of our patients and also seen the clinical pharmacist or community pharmacist integrating evidence from relevant and reliable sources to form evidence based conclusion or recommendation for the individual patient. So, my learning experience from class about how to integrate reliable sources using PubMed search and seen a pharmacist integrating evidence from Lexi-comp, Micromedex and clinical trial for their patient specific recommendation prepared me to participate

Concepts, practices, and effective decision-making strategies to promote patient safety and quality improvement begins with leadership to communicate expected standards of care to staff, promote active involvement in the quality improvement (QI) process, create a blame free environment in order to address near misses, errors, or adverse events, establish the use of Six Sigma as the benchmark for QI, and determine discrepancies between care provided and unit standards by root cause analysis (RCA) (Marquis & Huston, 2014). Childbirth by itself is an exhausting process and coupled with rooming-in, evaluations by staff and lactation consultants, and visitors, there have been increased numbers of infant falls during the hospital stay. These falls

“Informed decision-making comes from a long tradition of guessing and then blaming others for inadequate results.”, by Scott Adams. Can someone get all the truth from one source, how would they know if it’s the truth or just false propaganda. Sometimes, seen on the news, many by reading the new online, but by just looking at that one article, are you getting the complete story of the situation or is it all just made up from someone's opinion? So we check many sources to get all the sides and find out what you believe that is the truth behind what you’re looking at.

Introduction: The following assignment explores the importance of using information to inform and support strategic decision making to achieve organisational goals and objectives as set out by unit learning outcomes (LO) pertaining to this unit 7004. These four learning outcomes are to: LO1: Be able to understand the impact of management information on decision making; LO2: Be able to understand the importance of information sharing within the organisation; LO3: Be able use information to inform and support strategic decision making; and LO4: Be able to monitor and review management information. In order to achieve these learning objectives, the writer has drawn upon from his practical work

This report will discuss about the approach to rational decision making process. It discusses how an everyday problem faced by management can be tackled by using