Browse Definitions :
Definition

data-driven decision management (DDDM)

Contributor(s): Ivy Wigmore

Data-driven decision management (DDDM) is an approach to business governance that values decisions that can be backed up with verifiable data. The success of the data-driven approach is reliant upon the quality of the data gathered and the effectiveness of its analysis and interpretation. 

In the early days of computing, it usually took a specialist with a strong background in technology to mine data for information because it was necessary for that person to understand how databases and data warehouses worked. If a manager on the business side of an organization wanted to view data at a granular level, she had to reach out to the information technology department (IT) and request a report. Someone from the IT department would then create the report and schedule it to run on a periodic basis. Because the process was complex, ad hoc reports, also known as one-off reports, were discouraged.

Today, business intelligence tools often require very little, if any, support from the IT department. Business managers can customize dashboards to display the data they want to see and run custom reports on the fly. The changes in how data can be mined and visualized allows business executives who have no technology backgrounds to be able to work with analytics tools and make data-driven decisions.

Data-driven decision management is usually undertaken as a way to gain a competitive advantage. A study from the MIT Center for Digital Business found that organizations driven most by data-based decision making had 4% higher productivity rates and 6% higher profits. However, integrating massive amounts of information from different areas of the business and combining it to derive actionable data in real time can be easier said than done. Errors can creep into data analytics processes at any stage of the endeavor, and serious issues can result when they do.

See also: data-driven disaster

This was last updated in April 2016

Continue Reading About data-driven decision management (DDDM)

Start the conversation

Send me notifications when other members comment.

Please create a username to comment.

-ADS BY GOOGLE

File Extensions and File Formats

Powered by:

SearchCompliance

  • Whistleblower Protection Act

    The Whistleblower Protection Act of 1989 is a law that protects federal government employees in the United States from ...

  • smart contract

    A smart contract, also known as a cryptocontract, is a computer program that directly controls the transfer of digital currencies...

  • risk map (risk heat map)

    A risk map, also known as a risk heat map, is a data visualization tool for communicating specific risks an organization faces. A...

SearchSecurity

  • certificate authority (CA)

    A certificate authority (CA) is a trusted entity that issues digital certificates, which are data files used to cryptographically...

  • hacktivism

    Hacktivism is the act of hacking, or breaking into a computer system, for a politically or socially motivated purpose.

  • advanced persistent threat (APT)

    An advanced persistent threat (APT) is a prolonged and targeted cyberattack in which an intruder gains access to a network and ...

SearchHealthIT

  • Cerner Corp.

    Cerner Corp. is a public company in North Kansas City, Mo., that provides various health information technologies, ranging from ...

  • clinical decision support system (CDSS)

    A clinical decision support system (CDSS) is an application that analyzes data to help healthcare providers make decisions and ...

  • Health IT (health information technology)

    Health IT (health information technology) is the area of IT involving the design, development, creation, use and maintenance of ...

SearchDisasterRecovery

  • tabletop exercise (TTX)

    A tabletop exercise (TTX) is a disaster preparedness activity that takes participants through the process of dealing with a ...

  • risk mitigation

    Risk mitigation is a strategy to prepare for and lessen the effects of threats faced by a data center.

  • ransomware recovery

    Ransomware recovery is the process of resuming options following a cyberattack that demands payment in exchange for unlocking ...

SearchStorage

  • SSD (solid-state drive)

    An SSD (solid-state drive) is a type of nonvolatile storage media that stores persistent data on solid-state flash memory.

  • file system

    In a computer, a file system -- sometimes written filesystem -- is the way in which files are named and where they are placed ...

  • storage virtualization

    Storage virtualization is the pooling of physical storage from multiple storage devices into what appears to be a single storage ...

Close