Agility, 75
AI. See Artificial intelligence
Algorithm economy, 67
Analytics
applications, 36
basics of, 36–38
business, 36
current trends in, 38–41
data, 36
data-based decision making, 44–46
decision guide for implementing, 39
definition of, 36
predictive, 37
prescriptive, 37
reporting, 36–37
stakeholders, 51–52
tools and technologies, 41–44
visual, 43–44
Artificial intelligence (AI), 67–69
BA. See Business analytics
Big Data, 2, 7–8
Business action loop, 69–70
Business analytics (BA), 36
Business experiments, 42
Business intelligence, 36
Causal analysis, 42
Communication-driven DSS, 10
Competitive advantage, 30–32
Computerized decision support, 24–25
Correlation analysis, 42
Data analytics, 36
Data-based decision making
analytics, 44–46
competitive advantage, 30–32
computerized decision support, 24–25
data, information, and knowledge, 7–8
decisions and decision support, 8–11
description of, 3, 5–7
digital transformation impacts, 12–14
ethical challenges, 51–55
high-velocity, 46–51
key skills, 25–28
modern decision support applications, 11
right questions, 15–17
steps for developing, 28–30
Data-centric organization, 17–19
Data concept map, 8
Data-driven decision making, 21–24
Data-driven DSS, 10
Data-informed decision making, 21–24
Data storytelling, 64–66
Data visualization, 62–64
Decision support systems (DSS), 10
Digital disruption, 3–4, 71
Digitally immature organizations, 75
Digital transformation
assessment tool, 60–61
challenges, 21
description of, 5, 57–58
features of, 58–61
impact on data-based decision making, 2–3
role of data, 61–62
stages of maturity, 59
Digital workplace, 59
Document-driven DSS, 10
DSS. See Decision support systems
Ethical challenges, 51–55
Forecasting analysis, 43
Global business activity, 3, 73
High-velocity decision making, 46–51
Knowledge-driven DSS, 10
Knowledge, organizational strategy, 7
Machine learning (ML), 68
ML. See Machine learning
Model-driven DSS, 10
Modern decision support applications, 10–11
Opportunistic decision making, 74–75
Organization outcomes/factors, 72–73
Predictive analytics, 37
Prescriptive analytics, 37
Reporting analytics, 36–37
Scenario analysis, 43
Strategic type 1 decisions, 72
Strategic type 2 decisions, 72
Visual analytics, 43–44